Ashfords’ banking and finance team advised bunnyhomes, an independent housebuilder headquartered in Bodmin, on securing funding from the Levelling Up Home Building Fund. This project will see 170 new homes developed, including 51 affordable ‘local parish homes’, at a 14-acre site on the outskirts of historic Bodmin.
In addition to legal advice provided by the banking and finance team, Ashfords supported bunnyhomes with advice on access issues, construction and project documentation, title due diligence and reaching agreement with an affordable housing provider.
Although Ashfords has worked with bunnyhomes in relation to several previous projects, this is the largest development on which Ashfords have advised bunnyhomes to date.
The development will be known as John the Watchmaker’s Great Country Park and has been designed with the residents’ wellbeing in mind, centred around a 1.5 acre park and inspired by Georgian architecture. John Arnold, from whom the development takes its name, was an 18th century watchmaker from Bodmin who was renowned for his precision timepieces, coveted by luminaries such as George III and explorer Captain James Cook.
Andy Naylor, Finance Director at bunnyhomes, said: “This development is our largest to date. The design and scope of the project will showcase the high standard of our work and our dedication to building exceptional homes for local people as well as our contribution to the ongoing success of the Cornish economy.”
Anna Thompson, legal director in the banking and finance team, said: “We are delighted to be able to assist bunnyhomes once again with the funding for the development of much-needed homes in this part of the south west. We are proud to be associated with a client from the region with such a reputation for quality and integrity. Homes England’s funding for this project will help secure the growth of bunnyhomes and our shared commitment to the south west.”
Anna Thompson led the transaction, with input from partner James Heath and associate Lola Skuse from the real estate team and partner Laura Reeve from the construction team.
For more information, please contact the banking and finance team.
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