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Birmingham Post
Birmingham Post
Abigail Turner

Devonshire Homes secures £8.5m funding to develop 347 new homes

Lloyds Bank Tiverton South West

Independent South West-based housebuilder Devonshire Homes has secured £8.5m of funding to build 347 new homes in Ilfracombe.

The Tiverton-based developer secured the funding package from Lloyds Bank, which will also allow the business to bring forward 400 homes per year by 2026. Devonshire Homes recently acquired the site in Ilfracombe, North Devon known as Mariner's Haven.

The funding was provided to Devonshire Homes in partnership with social impact investor, Housing Growth Partnership, with the aim that 11% of the properties will be delivered as affordable homes.

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