Multi-million pound transformation of former Blomfield House health centre in Bury St Edmunds receives sustainable funding support
A Bury St Edmunds property firm which has broken ground on a multi-million pound eco-friendly development has received a financial boost from a sustainable initiative.
M&D Developments is transforming former health centre Blomfield House, in Looms Lane, into 15 energy efficient apartments in a £9 million project.
It follows a £3.7 million funding package from the Lloyds Bank Clean Growth Finance Initiative, which provides discounted lending to help firms invest in sustainable projects.
The 17,935 sq ft development is expected to be completed by April next year and will include energy efficient fabrication, insulation, materials and lighting as well as solar panels on the roof of the building.
Joshua Harris, CEO at M&D Developments, said: “Sustainability is at the heart of everything we do, and it was important for us to produce a development that is both sympathetic to the local heritage and fit for the future.
"The team at Lloyds Bank created a funding package that responded to our specific needs, giving us the flexibility we needed. Thanks to their support, we’re thrilled to be able to breathe life back into a building that was previously left behind."
We’re thrilled to be able to breathe life back into a building that was previously left behind - Joshua Harris
Barry Coote, relationship director at Lloyds Bank, added: “Our Clean Growth Finance Initiative is all about helping green-minded businesses to embark on sustainable projects and reduce their environmental impact. The team at M&D Developments realise the importance of not just continuing to grow but doing so with sustainability at the top of their agenda.
"The project is also perfectly timed as property buyers’ behaviour is shifting. Greater flexibility around working from home is drawing people from big cities to smaller towns like Bury St Edmunds.
"At Lloyds Bank we’re working closely with business customers right across the UK to guide them through this challenging period and help them access the support that’s available so they can continue to grow and ultimately thrive."