
The Next Phase of Sustainable Housing in Exmouth
As the demand for sustainable living continues to accelerate, Paragon Bank is making strides in funding eco-friendly housing developments. Recently, they announced a £9 million revolving credit facility to 3West Group, aimed at furthering the Goodmores residential scheme in Exmouth, Devon. This investment will fund the construction of 71 new homes, including a mix of two, three, and four-bedroom houses, marking a significant step towards increasing sustainable housing options in a desirable coastal town.
Innovative Financing: The Role of Paragon’s Green Homes Initiative
The development is particularly notable for its eligibility under Paragon Bank’s Green Homes Initiative, which incentivizes energy-efficient housing. With features such as electric vehicle charging points and impressive Energy Performance Certificate (EPC) ratings, homes in this scheme reflect a growing trend towards building not just houses, but sustainable living environments. Notably, developments that meet specific energy efficiency criteria can benefit from reduced loan exit fees, which encourages small and medium-sized enterprises (SMEs) to adopt environmentally friendly practices.
Exmouth: A Hub for Sustainable Living and Investment
Exmouth, with its blend of coastal charm and accessibility to major urban centers, remains an attractive locale for property developers and investors alike. The property market in this region has experienced substantial growth, with average house prices hitting £362,000—35% above the national average. Notably, East Devon has seen a significant 4.2% price increase over the past year, driven by surging demand that has escalated by 8% since early 2024.
The Importance of Local Partnerships in Development
James Helmore, relationship director at Paragon Bank, highlighted the importance of building long-term partnerships with local developers. His assertion that “this facility reflects our commitment to backing quality regional housebuilding where it’s needed most” underscores the role of local knowledge in achieving successful projects. Such collaborations foster effective placemaking, ensuring that new developments not only provide housing but enhance the community.
Future Outlook: Sustainability in Real Estate Financing
The collaboration between Paragon Bank and 3West Group sets a precedent for future investments in green housing. As environmental consciousness becomes more embedded in public policy and consumer demand, financing options like those provided under the Green Homes Initiative are likely to gain traction. Developers who align their projects with sustainable standards will not only benefit from enhanced financial incentives but also contribute positively to the community and environment.
Embracing the Shift Towards Sustainable Homes
As consumers become increasingly aware of the ecological impacts of their living choices, the appeal of energy-efficient homes continues to rise. This shift encourages developers to prioritize sustainability in their projects, aligning with broader societal values concerning environmental stewardship. By investing in sustainable housing initiatives, both banks and developers can pave the way for a greener future.
Investors looking to participate in this trend should consider how developments like the Goodmores residential scheme can provide returns—not just in financial terms but also in creating livable, sustainable communities. With strategic financing and a focus on energy efficiency, the UK property market is evolving towards a more sustainable future.
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