The first phase of a new garden village development on the outskirts of St Austell has received £18 million of funding.
West Carclaze Garden Village is a development by Eco-Bos, a joint venture between Imerys and Orascom Development Holdings.
With a focus on sustainable community living, the village will eventually incorporate a new school, village centre with shops, cafes, medical facilities and other amenities, five lakes, around 16 miles of trails within a 350-acre country park.
A new £18 million development finance facility from specialist lender Shawbrook Bank will support the first phase of the scheme, which will deliver 270 new homes, with up to 1,500 planned over the course of the entire development.
Eco Bos chief development officer, Dorian Beresford, said: “We are creating an inclusive, vibrant community in one of the most beautiful places in the country. A healthy, sustainable and inclusive lakeside community, where everyone is welcome to share the best of West Country life with accessibly priced homes designed to meet the needs of all ages.”
“John Hughes and the Shawbrook team bought into our plans immediately and could see the potential of the project from the start. Their track record as a specialist funder and supporter of innovative property developments – particularly across the south west – is second to none and their commitment to putting this funding in place has demonstrated to us what a difference it can make to have the right funder working with you.”
Hughes, relationship manager at Shawbrook, added: “This is an exciting development for the region and we are very happy to be involved. Despite the current logistical challenges associated with Covid-19 measures, we have been in discussion with the Eco-Bos team for some time now and have been focussed on delivering this facility to help make the scheme a reality.”