Blackfinch Property Supports Development of Eco-Homes in East Sussex. Its development loan will be applied to a unique project in Newhaven.
Blackfinch Property has provided a loan of £2.4m for a development of eco-homes in the marina town of Newhaven, East Sussex. The loan facility will enable the demolition of existing buildings and erection of 13 eco-apartments within two blocks.
The homes will be built to the Active House principles set by the Active House Alliance, the highest ecological standard in the property industry. The development is set to achieve this through the inclusion of solar panels, electric charging points, rainwater harvesting, infrared panels and insulation.
A number of complex issues arose during the due diligence of the deal which the team dealt with comprehensively, engaging external advisers where necessary. The team recognised that the project represented a unique self-build development with no market comparables and worked hard with an appointed Monitoring Surveyor and Valuation team to understand the specific complexities involved with this type of build.
Blackfinch Property supports ambitious property developers across the UK. We are pleased to be working with a committed developer on this sustainable ecological development, which will also help to put disused land to good use.
Blackfinch Property is a fully funded provider of innovative short-term bridging and development financing solutions. For more information email [email protected].