- The capital has supported the creation of 24 new homes in the village of Kilkhampton and is part of a 34-unit new neighbourhood;
- Founded in 2013 by Tracey Kent in her garage, bunnyhomes has since invested more than £20m in the Cornwall and Devon economy;
- The business has an aspiration to become a c.250 unit per annum regional homes creator operating across Cornwall and Devon.
OakNorth Bank, the UK bank for entrepreneurs, by entrepreneurs, has completed a £6.2m business 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% 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.”
Barry Stiles M.D. of bunnyhomes, continued: “We create high-quality homes, using traditional methods and beautiful materials. Clearly our customers are central to how we design our homes and at Blackberry Lane, Kilkhampton we are putting in our first air-source heating system with the benefit of underfloor heating downstairs. Equally important is the bunny team that bring our business ambitions to life and the journey we go on together daily to achieve that.”
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.”
ENDS
Notes to editors
About OakNorth Bank plc
Launched in September 2015 and founded by entrepreneurs, OakNorth Bank provides fast, flexible, and accessible debt finance to the UK’s Missing Middle.
Since its launch, the bank has:
- Lent over £8.4B, directly helping with the creation of 34,000 new jobs and 25,000 new homes across the UK.
- Raised deposits from c.160,000 savers.
- Supported several hundred businesses across the UK with the debt finance to pursue their growth ambitions.
It is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.