17 Mar LOCAL PROPERTY DEVELOPER GOES GREENER WITH SUPPORT FROM LLOYDS BANK
An East Anglian property company is positioning itself for a more sustainable future with support from Lloyds Bank.
M&D Developments operates across Suffolk, Cambridgeshire, Essex and Hertfordshire and has been developing buildings for more than 40 years.
Headquartered in Bury St Edmunds, the family-owned business secured a £3.7 million funding package via the Lloyds Bank Clean Growth Finance Initiative, which provides discounted lending to help firms invest in sustainable projects.
M&D Developments has now broken ground on the development of a new eco-friendly apartment building in Bury St Edmunds. The £9 million project will see Blomfield House converted from a previously-vacant NHS office space into 15 high quality energy-efficient residential apartments.
The 17,935 sq ft development is expected to complete in April 2022 and will include the highest standards of energy efficient fabrication, insulation, materials and lighting. Additional sustainability measures will include the installation of solar panels on the building’s roof, which will provide tenants with clean, green energy.
The properties will also benefit from private terraces, lift access to all levels, underground parking and high specification fittings throughout.
M&D Developments works across the residential, office and commercial property sectors, from the restoration of period and listed buildings to the development of large-scale new build commercial buildings. Its portfolio also includes several properties now owned by The Crown Estate.
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.”
Barry Coote, relationship director at Lloyds Bank, said: “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.”