M 10m Paragon green finance secured for Somerset scheme

Acorn Property Group has secured a £ 10m Paragon green finance facility to support its ‘Cubis Bruton’ newbuild scheme in Bruton, Somerset

The green finance will assist Acorn Property Group with the second phase of ‘Cubis Bruton’, a 56-home sustainable and energy efficient housing scheme.

The second phase, Longcroft at Cubis Bruton, will oversee the construction of 28 contemporary three and four-bedroom homes, each designed with sustainability and modern living in mind.

Paragon’s Green Homes Initiative aims to support SME housebuilders developing new domestic properties that possess the highest energy performance standards. Under the green finance scheme, developers providing homes with an Energy Performance Certificate rating of A will receive a 50% reduction on loan exit fees.

The innovative and contemporary housing scheme overlooks Bruton and brings a flexible and dynamic approach to rural living.

The Bruton project has been designed by Mark Merer, well-known for his land art works which combine architecture, landscape and sculpture. The houses include detached, semi-detached and terraced and each have differing design and internal layouts. Made with timber cladding and natural stone, some are cantilevered with shady spaces below.

Combining leading design with efficient construction

The deal was led on behalf of Paragon Development Finance by senior relationship director Nigel Jackson with support from senior portfolio manager James Helmore.

Managing director of Acorn Property Group, Melanie Omirou, said:

“We are very proud of this unique development, which combines leading design with efficient construction techniques to maximize the sustainability of the scheme.

“We pride ourselves on each Acorn development being individually and intelligently designed and built to the highest quality – our vision is to ensure that everything we do has a positive impact and contribution to the local surroundings, creating a true sense of place and an inclusive community. where residents and nature can grow and flourish long after we complete our role in the building of the scheme. ”

Paragon’s Nigel Jackson added:

“We are delighted to have completed another deal utilizing our Green Homes Initiative. Cubis Bruton is truly unique and offers residents something different. The first phase of the scheme sold well and we are confident the second phase will prove just as popular. ”

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