Octopus Real Estate has provided a £7.1m loan facility to Russell Armer by Genesis Homes for the development of a sustainable housing project in Kirkby Lonsdale, Cumbria.
The facility will finance the development of 34 homes – 12 of which will be marked as affordable – at Lunesdale Rise.
Jenna Hollins, investment manager, Octopus Real Estate, said: “We are committed to supporting developers who strive to deliver best-in-class new homes that are clean, green, and meet local demand.
“This project is a great demonstration of our shared commitment to building more sustainable communities.”
The development, which is an extension of the previous phase Oakfield Park, will feature green homes built with locally sourced material, and the housebuilder will prioritise fabric-first energy efficiency.
Additional features include PV panels, a source control sustainable drainage system, public open space, and landscaped gardens.
The homes will also contribute to the affordable housing quota for the area and use local suppliers and contractors where possible.
John Blue, sales and land director, Genesis Homes, added: “We’re delighted to be bringing our new homes to the prestigious town of Kirkby Lonsdale, which have received an unprecedented level of interest prior to launch.
“Working with Octopus Real Estate provides us with the opportunity to meet the high demand in this area, and we’re excited to showcase the high specification and considered designs of our homes in the coming weeks.”
The loan was brokered by Nick Holding Parsons at Lexi Finance.