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UK property lender Blackfinch has completed a £2m development loan for a holiday resort in Lancashire to deliver an additional five luxury lodges.
The 12-month deal will fund the future development of Twin Lakes, which has planning permission for 54 holiday lodges, several of which have now been completed and are already operational.
The site where the five luxury lodges are to be located is a former disused quarry, creating a new wildlife environment, as well as additional local jobs.
The construction also used locally sourced sustainable materials, including timber frames fabricated in the area. The development is also compliant with energy efficient building regulations and provides facilities for bicycles and electric charging points.
According to Blackfinch, it screens all investment opportunities against criteria that will deliver ESG benefits.
David Diemer, investment director at Blackfinch Property, said: “It was a pleasure to work with the Lodgequest team to deliver the latest phase of their vision for Twin Lakes, a luxury holiday complex in beautiful surroundings that enhance as well as protect local biodiversity.
“The business model for this development is complex, and after taking time to fully understand it, we were able to structure a facility that best supported the growth plans of the borrower.”
He added: “Because we build long-term relationships with our clients, we’re often involved in several phases of a project. We’re excited to see what the future holds for Twin Lakes and how we can further support the Lodgequest team.”
