£6.2m loan to family-run SME helps fund major new residential neighbourhood in Cornwall

OakNorth Bank, the UK bank for entrepreneurs, by entrepreneurs, has completed a £6.2m loan to bunnyhomes, a family-run SME homes creator based in the South West, managed by an experienced M.D. to support the development of two dozen new homes in Cornwall as part of a 34-unit neighbourhood.

The first customers are expected to move into the new homes at Blackberry Lane in the village of Kilkhampton, later this year. The 34 new homes, including 10 local parish homes, consist of two-, three- and four-bedroom homes from bunnyhomes’ Craft Collection.

Bunnyhomes was founded by Tracey Kent in 2013 to do it better for customers by reinventing renting before building from the ground up and has since invested more than £20m in the Cornwall and Devon economy by ensuring that at least 75 per cent of its spend is on regionally sourced products from local businesses.

A serial entrepreneur since 1977, Tracey has significant experience of business acquisition, integration, and mergers, along with start-ups - for 43 years. All new bunnyhomes come equipped with Cat-6 cabling, built-in USB ports in plug sockets, and Hive Thermostats, so residents can set time and temperature schedules for each day of the week - saving energy and money.

Tracey Kent, founder of bunnyhomes, said: “We are changing the way local people think about new homes, from building better, more beautiful homes to putting eudemonia at the centre of our thinking. Our new Craft Collection homes at Blackberry Lane are inspired by Georgian architecture, but fused with modern day living, providing convenience and comfort.

“We have historically been a self-funded business as we’d heard from our peers that the borrowing experience at banks can often be challenging. However, working with the team at OakNorth Bank was a genuinely delightful experience, they were highly communicative and understand the business we’re building.”

Lance Anelay, director of debt finance at OakNorth Bank, said: “The bunnyhomes team led by Tracey and experienced home builder, Barry Stiles, is impressive. At each new home created, they plant a Butterfly & Bee rose next to each of their artisan porches, and regenerate old disused buildings, supporting up-cycling.

“SME home builders such as these play a vital role in local communities and economies, which is why we’re proud to be supporting them and enabling them to achieve their ambition to create 250 new homes a year.”

By Mark Adair – Correspondent, Bdaily

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