Blackfinch Property has completed a development loan to support phase two of the Dolbeare Meadows project, helping bring new amenities to a growing business park on the main A38 Devon Expressway near Ashburton.

The funding will support the next stage of growth for the mixed-use commercial site, with plans for a drive-through Starbucks café and an electric vehicle (EV) charging park to serve both local communities and passing traffic.  

These additions follow Blackfinch Property’s support for phase one of the development, which helped fund a pre-let 4,300 sq ft Co-op convenience store and establish the foundations for the wider site.

David Diemer, Investment Director at Blackfinch Property said: “We were delighted to again partner with the developer on phase two of this mixed-use scheme, having successfully completed the financing of phase one. We have been impressed by the developer’s ability to resolve construction challenges as they arose, helping to reduce delays and manage costs wherever possible.”

This deal reflects Blackfinch Property’s ability to structure funding around the practical demands of real-world development projects. The facility was arranged across two phases, giving the borrower flexibility while planning and lease agreements progressed.

With parts of phase two dependent on work completed in phase one, careful sequencing was essential throughout. Having supported phase one, Blackfinch Property already had a strong understanding of the site and was able to work closely with all parties to support continued progress.

Designed with its setting on the edge of Dartmoor National Park in mind, the development uses sustainable timber cladding where appropriate and benefits from fully electric building services. The business units, convenience store and drive-through café are all expected to achieve an EPC rating of A.

While the ecological impact assessment identified the site as being of low ecological interest, the scheme has been designed with a clear focus on protecting and enhancing the surrounding environment. Many existing trees will be retained, new trees will be planted off site to offset those removed during construction, and the building orientation has been carefully adjusted to protect a bat flight corridor.

Once construction is complete and the new leases are in place, the developer intends to sell phases one and two as a single investment.