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Paragon green finance helps Acorn's sustainable Somerset scheme

Acorn Property Group - Bruton.jpg

  • Finance: £10 million
  • Location: Bruton, Somerset
  • Units: 28 three and four-bedroom homes
  • Paragon Deal Team: Senior Relationship Director Nigel Jackson and Senior Portfolio Manager James Helmore

We supported longstanding-client Acorn Property Group’s innovative and environmentally-focused new build scheme in Bruton, Somerset, with a £10 million finance package.

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

The development is designed by Mark Merer, well-known for his land art works which combine architecture, landscape and sculpture. The collection of houses – detached, semi-detached and terraced – offer individual design and internal layouts, with timber cladding and natural stone.

The deal was led on behalf of Paragon by Senior Relationship Director Nigel Jackson with support from Senior Portfolio Manager James Helmore.

How we helped

Situated overlooking Bruton, this innovative and contemporary scheme brings a flexible and dynamic approach to rural living.

The finance assisted with the development of the second phase of ‘Cubis Bruton’, a 56-home scheme that is being developed with sustainability and energy efficiency at its core. The second phase, Longcroft at Cubis Bruton, consists of 28 contemporary three and four-bedroom homes, each designed to be highly sustainable and suit modern living.

“We are very proud of this unique development, which combines leading design with efficient construction techniques to maximise 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.”

Melanie Omirou, Managing Director of Acorn Property Group

“We’re delighted to have completed another deal utilising 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.”

Paragon Senior Relationship Director Nigel Jackson

To see how we can support your business, visit our Development Finance page.

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551