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High standards

Property developer sees growing demand for its high-end eco homes

Heritage Developments South West specialises in developing high-specification homes, from two bed apartments to five bed executive houses, located within 30 miles of its Exeter headquarters. Founded in 2003, it has so far built around 200 homes, costing from £160,000 to £1.4 million.

Ever since we started we have always aimed to be ahead of the market by developing homes with the latest high-specification fittings and finishes and the highest standards of workmanship.

David Lovell, Development Director, Heritage Developments South West

Green scheme

The £6.5 million turnover business needed a funding boost to develop its two latest projects in Devon. Holland Park is a development of 40 ground-breaking zero carbon homes in Exeter, while it is also developing 50 new homes in Tiverton, which have a more traditional feel.

Holland Park is a development of cutting-edge homes with first-class eco credentials, which aims to be the first truly zero carbon major residential development in the West Country.

David Lovell, Development Director, Heritage Developments South West

Solid foundations

Heritage Developments South West has now secured a £5 million development loan from Lloyds Bank Commercial Banking. More than half the contemporary homes at Holland Park have already been sold off plan, in advance of the first completions due in May 2014.

The first phase of 14 homes in Tiverton have already been occupied by their new owners, while ground works are underway on phase two of the development, which comprises 36 homes that are due for completion in late 2015.

We came to Lloyds Bank Commercial Banking because it offered a far more flexible and pro-active approach to lending, which will enable us to move the business forward and expand.

David Lovell, Development Director, Heritage Developments South West

Building for the future

Heritage Homes South West is an innovative property developer that is well-placed to take advantage of the recovery in the housing market. Heritage Developments South West currently has a pipeline of options or land under negotiation for close to 200 more homes.

The bank demonstrated a good understanding of our industry and was prepared to work with us to achieve the best result for our company.

David Lovell, Development Director, Heritage Developments South West

Building for the future

Doing the double

Development Director David Lovell said: “I believe that in three years’ time we will have built a business with annual revenue between £10 to £12 million.”

At Lloyds Bank Commercial Banking we share that ambition for growth and we are committed to supporting our business customers. Our net lending is positive and we have pledged to keep it positive.

Colin Vallance, Relationship Director, Lloyds Bank Commercial Banking