A group of entrepreneurs, philanthropists and investors has bought a luxury self-catering retreat in North Devon after securing a multi-million pound finance package.
Steve Baker, director of real estate company Pickwell, has purchased Ravendere Retreats in the coastal village of Lee along with his wife Susannah and their friends and business partners, Richard and Tracey Elliott.
The funding for the acquisition was provided by The Cumberland Building Society.
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Ravendere Retreats includes a handcrafted one-bedroom treehouse nestled within the canopy of four mature beech trees with a kitchen, living area and balcony, as well as a two-person Wildwood Spa, with a heated infinity pool, freestanding stone bath and cedar sauna.
The new owners, who also operate Pickwell Manor apartments in Croyde, said they are planning to implement a series of sustainable initiatives to the venue, such as heat-pump powered hot tubs, electric vehicle charging points and eco-friendly cleaning products. The business is also planning to work "closely" with local environmental charity Plastic Free North Devon, it said.
Mr Baker said: “We dedicate all our work to having a positive impact on both people and the planet, opting for lower financial return in favour of higher social benefit.
“Ravendere Retreats is a beautiful and unique offer, which is very much aligned with our own sustainability values. We look forward to welcoming guests, old and new, to enjoy the space in the coming years.”
The two couples own three businesses in total employing 50 staff, including Eden Sustainable, a specialist in commercial solar which provides renewable energy and electric vehicle infrastructure solutions, and Homemade (Pickwell Limited), which provides social housing to displaced people and refugees in the South West.
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The group also runs The Pickwell Foundation, with profits from all four businesses contributing to the charity, which supports initiatives working with displaced people and combating climate change, most recently assisting Ukrainian individuals and families with resettlement in North Devon and Torridge.
Devon-based Ben Leo, commercial manager at The Cumberland Building Society, added: “The ambitions of Pickwell Ltd and Ravendere Retreats really align with our own, and this is one of the reasons we were so keen to support the latest venture of the Bakers and the Elliots and look forward to future opportunities to work together.”
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