Blackfinch Property has provided a £2.1m loan for the sustainable mixed-use commercial project, Dolbeare Meadow, in Ashburton, Devon.
This loan supports the first phase of the scheme, which includes a pre-let 4,300 square foot Co-op convenience store and essential infrastructure for future phases.
Later developments are set to include a drive-through café, an EV charging park, and several business units.
The aim is to create a sustainable business hub with a focus on long-term investment, achieving an EPC A rating and featuring electric services, sustainable timber cladding, and up to 12 EV charging points.
Blackfinch Property structured the loan in two phases for the developer’s flexibility.
Phase One will fund the store construction and site infrastructure, while Phase Two will finance additional retail and business units.
Plans include selling the Co-op store with its lease and offering the remaining plots separately.
David Diemer, investment director at Blackfinch Property, said: “We are delighted to have completed this development facility with Poppy Holdings to support the first phase of their mixed-use scheme on the edge of Dartmoor National Park.
“Their focus on sustainable construction and sensitivity to the location, while maintaining financial viability, made partnering with them an easy decision.
“We look forward to working with them on this and future phases of the development.”
William Palk, partner at Poppy Properties Ltd, said: “Since early 2024, we have had the pleasure of working with Blackfinch on Dolbeare Meadow.
“Their expertise and collaborative approach have been invaluable in securing funding to bring our development to fruition.
“Blackfinch’s support has helped us create a high quality, sustainable business location, and we look forward to seeing this vision come to life.”
