A Midland property development company is increasing its sustainability credentials after securing a £2.3 million loan.
Cradley Heath-based Stewardson Developments has invested in renewable energy sources after securing the funding from Lloyds TSB Commercial.
Established in 2002, Stewardson Developments has a portfolio of 125 commercial and residential buildings that it has refurbished and successfully let to clients across the West Midlands.
The business wanted to ‘future-proof’ its portfolio and improve the sustainability of its properties to reflect the Government’s plans for new buildings to be zero carbon by 2016 and is installing on its properties Solar PV to generate electricity, solar thermal for hot water.
The firm has installed solar panels at 15 of its properties so far, and will look to implement sustainable measures to six of its properties each year moving forward.
The company, which has four employees and sub-contracts its building and maintenance work to highly qualified local firms, has a track record of purchasing property to transform and is always looking to expand its portfolio.
Philip Stewardson, director at Stewardson Developments, said: “We were keen to ensure our portfolio was doing its part to reduce carbon emissions, and we have already beaten our target of six installations per year. Feedback from our tenants has been incredible, leading us to expand our plans further, and in autumn 2012 we will be trialling air and ground source heat pumps.
“It is investment in modern practices like this and the commitment to ensuring each property is refurbished to the highest standards that has seen the business expand despite the building industry as a whole being particularly affected by the economic downturn.”