Living Villages gains more funding

The sustainable housing company issues a challenge to Gordon Brown after funding boost

Sustainable homes provider Living Villages has gone back to its main equity backer to gain some additional finance for the business.

The Low Carbon Accelerator previously invested £325,000 in March this year and has now added the same amount again. This second investment means that it now holds a 20% stake in the company.

The investors have also committed to invest a further £325,000 depending on performance and in this scenario would hold 25% of the company.

Living Villages’ board has also been boosted recently with the addition Scott Black as land and development director and Chris Simpson as non-executive director. Black was formerly a senior development executive at Crest Nicholson plc and is also a qualified architect. Simpson has taken on senior roles at a number of organisations from manufacturing to the NHS.

The founders of Living Villages, led by founder Bob Tomlinson and managing director Hugo Reeve, have also put in £100,000 into the company.

The company is now in shape to roll-out its offering on a much wider scale. It has already designed and built a Shropshire-based site called ‘The Wintles’ a ‘socially appealing’ country village powered by renewable energy.

The environment is currently high on the political agenda and Living Villages is challenging the next prime minister, Gordon Brown, to really take up the challenge of sustainable housing.

Reeve said: “This new investment should help keep Living Villages at the forefront of low carbon housing development.

“Whilst it is great to see this so high on the political agenda, we have to make sure Gordon Brown’s ‘eco-towns’ are actually delivered, rather than just talked about with grand visions and ideals.

“It is the delivery that is the hard bit, linked to financial reality, high construction costs, and emerging technologies.”

Tomlinson added: Real sustainable development means creating new villages that encourage a low-carbon lifestyle.

“I believe that we have built an example of this now and I would like to invite Gordon Brown to take a look around what we have already achieved to show a real example of ‘best practice’ in developing low carbon neighbourhoods.”

© Crimson Business Ltd. 2007


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