£10.7 million development loan
The finance
Through our Greener Homes Alliance initiative, we provided a £10.7 million fixed rate development facility in conjunction with Homes England. The Greener Homes Alliance offers interest rate discounts for developments where all homes are delivered with a SAP score of 85 and higher, with the highest discount set at 2% for homes delivered with a SAP score of 92 or higher (EPC A rating). Developments funded through the initiative also benefit from free expert advice from McBains and Octopus Energy.
The result
30 new net zero carbon homes, including 8 affordable homes, that will help lower energy bills for their owners. All units will be delivered to an EPC rating of A or A+, including high levels of insulation and a precision built timber frame that minimises heat loss and delivers outstanding airtightness. Oversized, thermally insulated windows flood the properties with daylight, without compromising on energy efficiency.
All homes will be fitted with high output photovoltaic panels, underfloor heating, air source heat pumps, and electric vehicle charging points. The development will also foster a strong community spirit, with a flowering meadow, community allotment, and children’s activity area.
“We’re thrilled that our joint venture with Homes England is helping to meet the increasingly urgent need to develop more sustainable homes across the UK. Creating more energy efficient homes is vital if this country is going to make progress towards net zero.”
Benjamin Davis, CEO at Octopus Investments
