Monday, November 30, 2020
UK

Triodos Bank invests £5.5m in Ssassy Property’s residential project

Triodos Bank

Ssassy’s hopes its major environmental commitments make the plan unique as it aims zero-carbon development

A sizeable housing development bidding to be the ‘UK’s most sustainable residential project’ is being built on a former green plot of farmland.

Comprising of 25 eco-homes Springfield Meadows, near Abingdon, is set to be completed in mid-2021 thanks to a recent financial boost of £5.5 million from Triodos Bank UK.

The residential project by housing developer Ssassy Property is based on Springfield Farm, south of former Fallowfields fine-dining hotel in Southmoor.

While the area now boasts several housing projects, Ssassy’s hopes its major environmental commitments make the plan unique.

When planning permission was granted in December 2016 by Vale of White Horse District Council Planning Committee, the parish council and four neighbours objected to the project.

However, years later, there are only four homes available to potential buyers, with the other 21 already sold off or reserved.

The company claims its philosophy is ‘to ensure its schemes are beneficial to local communities and the environment’, so it is essential for them that the construction produces zero-carbon emissions and that occupied homes use net zero energy.

The joint venture between the independent bank and the housing developer is the first time it has invested in a private eco-residential project.

Triodos, which claims to be Europe’s leading ethical bank, is working with Ssassy as both businesses have shared ambitions and a focus on achieving net zero in construction, if the UK is to achieve its 2050 carbon goals.

Chief finance officer at Ssassy Property Paddy Thompson said: This new funding package is great news for Ssassy and our other investors. Both businesses have shared values in being both sustainable and ethical, which is fundamental to what we do. The financing allows us to complete this first of a kind project here at Springfield Meadows and contribute positively to reducing the UK’s carbon emissions.

Mr Thompson also revealed that Triodos Bank and Ssassy are now actively looking for other residential projects to deliver more ‘climate positive homes’.

Simon Crichton, who works on lending to sustainable development projects at Triodos, explained the bank’s decision: In order to reach the government’s target of net-zero carbon emissions by 2050, we need our new homes to be of the highest energy efficiency and sustainability standards, both in use and in construction.

Potential buyers will be able to visit the high-quality design eco-homes on Saturday, March 21.

A spokesperson for Ssassy Property explained there are still building plots with options for two, three, four and five-bed homes available.

Important:
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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