Blackfinch Supports Dolbeare Meadow with £2.1m Loan
Deal News | Feb 18, 2025 | Blackfinch
Blackfinch Property has provided a £2.1 million development loan for the first phase of Dolbeare Meadow, a sustainable mixed-use commercial development in Ashburton, Devon. The project includes a pre-let Co-op convenience store and essential infrastructure for future phases. Aimed at achieving a high sustainability standard, the development features EPC A rating and electric services, along with incorporation of sustainable timber cladding and up to 12 EV charging points. The loan is structured in two phases to offer flexibility to the developer, Poppy Holdings, as they plan to sell the completed store and individual plots separately. The project demonstrates a commitment to eco-friendly construction and financial viability, with a gross development value of £3.26 million supported over a 14-month term.
Sectors
- Real Estate Development
- Sustainable Construction
Geography
- United Kingdom – The project and the companies involved are based in the UK, with the development located in Devon.
Industry
- Real Estate Development – The article discusses a real estate development project in Devon, funded by Blackfinch Property.
- Sustainable Construction – The development at Dolbeare Meadow emphasizes sustainability, aiming for an EPC A rating and integrating environmental features.
Financials
- £2.1 million – The development loan provided by Blackfinch Property for the Dolbeare Meadow project.
- 65% – Loan-to-value ratio of the £2.1 million loan for Dolbeare Meadow.
- £3.26 million – The gross development value supported by the loan over a 14-month term.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackfinch Property | Funding Provider | Company | Blackfinch Property provides the development loan for the Dolbeare Meadow project. |
| Poppy Holdings Ltd | Developer | Company | The developer responsible for the Dolbeare Meadow project in Ashburton, Devon. |
| David Diemer | Investment Director | Person | Investment Director at Blackfinch Property overseeing the loan for Dolbeare Meadow. |
| William Palk | Partner | Person | Partner at Poppy Holdings Ltd, involved in the development of Dolbeare Meadow. |
| Co-op | Tenant | Company | The convenience store tenant at Dolbeare Meadow, pre-let as part of the first phase. |