Acorn Property backed by Paragon Development Finance

Acorn Property Group has secured a £10m finance facility – utilising Paragon Development Finance’s Green Homes Initiative – to support its newbuild scheme in Bruton, Somerset.The finance will assist with the development of the second phase of Cubis Bruton, a 56-home scheme which is being brought forward with sustainability and energy efficiency at its core.It will comprise 28 three and four-bedroom homes.Paragon’s Green Homes Initiative aims to support SME housebuilders developing new domestic properties with the highest energy performance standards. Under the scheme, developers bringing forward homes with an energy performance certificate rating of A will receive a 50 per cent reduction on loan exit fees.The deal was led on behalf of Paragon Development Finance by senior relationship director Nigel Jackson with support from senior portfolio manager James Helmore.Melanie Omirou, managing director of Acorn Property Group, said: “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.”Paragon’s Nigel Jackson added: “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.”