£6m finance deal to fund Hannah's Newton Abbot master plan
IT'S full steam ahead for ambitious plans to further develop the Seale Hayne complex outside Newton Abbot.
A £6million finance funding deal has been struck which will enable Dame Hannah Rogers Trust, known as Hannahs, to forge ahead with its master plan.
The trust, which provides education, care and respite for profoundly disabled children and adults, say the £6million will help fund plans for a spectacular and inclusive complex for people with disabilities, their families and the community.
Seale Hayne already boasts a music venue, recording studios, outdoor pursuits, hydrotherapy, retail and bistro facilities.
The deal will enable Hannahs to create much-needed accessible and independent living accommodation, a 'glamping' camping site, hotel-style accommodation and further outdoor pursuits.
The finance was arranged by Ros James and Co, of Plymouth, and provided by the specialist charities team at the Co-operative Bank.
Bronwen Hewitt, chief executive of Dame Hannah Rogers Trust, said: "We are delighted to have secured finance at such excellent rates, and are grateful for the tireless work of Ros James and Co to secure this for us.
Ros James & Co helped the trust in the purchase of the Seale Hayne site in 2009 and the £6million partly refinanced the original loan and partly borrowed additional funding for the redevelopment plans.
Director Rosalie James, said: "We have worked with the Dame Hannah Rogers Trust for a number of years, growing alongside them, and so it has been especially rewarding to broker a finance package that gives them a helping hand on their journey."
Last year a master plan to transform the former Seale-Hayne agricultural college on the outskirts of Newton Abbot was given the green light by Teignbridge planners.
It created Hannahs@Seale Hayne after it acquired the site, including the Grade II-listed buildings and 40 acres of agricultural land, from Plymouth University in December 2009.
An outline plan for homes elsewhere on the site, made by the trust to fund future projects, will be put to planners at a later date.