New Co-op store and business hub planned for Ashburton

A new Co-op store and business hub is set to be developed at Dolbeare Meadow in Ashburton, supported by a £2.1 million development loan from Blackfinch Property.

The project aims to bring jobs, new retail options, and investment to the local area. 

The first phase will see a modern, sustainable Co-op store built alongside essential infrastructure to support future commercial development.

The new Co-op will replace the existing store in Ashburton, offering a larger, more modern shopping experience while maintaining a vital local service. 

Future plans include business units and a drive-through café, creating a commercial hub that will boost the local economy and provide job opportunities.

Sustainability is a key focus, with the development designed to achieve an EPC A rating.

It will feature fully electric services, sustainable timber cladding to blend with the Dartmoor surroundings, and EV charging points to support greener transport options.

The first stage includes a 4,300 sq ft Co-op convenience store, already pre-let, along with essential infrastructure for future phases. 

Later stages will introduce a drive-through café, an EV charging park, and additional business units. 

The development aims to create a commercially viable, future-proofed business hub with long-term investment potential.

Designed with sustainability at its core, the project will retain trees, incorporate off-site planting, and adjust building orientation to protect a flight corridor for bats. 

Up to 12 EV charging points will be installed.

Blackfinch Property structured the loan in two phases to provide flexibility.

Phase One funds the construction of the convenience store and site infrastructure, while Phase Two will deliver additional retail and business units. 

The completed Co-op store will be sold with the lease in place, and the remaining plots will be marketed separately.

David Diemer, Investment Director at Blackfinch Property, said: “We are delighted to have completed this development facility with Poppy Holdings to support the first phase of their mixed-use scheme on the edge of Dartmoor National Park. Their focus on sustainable construction and sensitivity to the location, while maintaining financial viability, made partnering with them an easy decision. We look forward to working with them on this and future phases of the development.”

William Palk, Partner at Poppy Properties Ltd, added: “Since early 2024, we have had the pleasure of working with Blackfinch on Dolbeare Meadow. Their expertise and collaborative approach have been invaluable in securing funding to bring our development to fruition. Blackfinch’s support has helped us create a high-quality, sustainable business location, and we look forward to seeing this vision come to life.”

The £2.1 million loan carries a loan-to-value of 65 per cent and supports a gross development value of £3.26 million over a 14-month term. 

The completed convenience store will be sold with the lease in place, while serviced plots for commercial units will be marketed separately.