Market Leads & Opportunities

LAR Housing Trust secures ‘game-changing’ £65m funding boost

Source: http://www.scottishconstructionnow.com

LAR Housing Trust has secured £65 million of funding to boost its portfolio of mid-market rental properties across Scotland.Arranged by Bank of Scotland Commercial Real Estate through its partnership with Scottish Widows, the private finance deal has been described by LAR’s chairman as a “game-changer” for the housing charity as it aims to supply approximately 1,000 new homes across Scotland.Dunfermline-based LAR launched in October 2015 with the aim of helping an increasing number of tenants across Scotland who neither qualify for social housing nor can afford rents in the private sector.The funding package is the latest in a series of deals arranged by Bank of Scotland in the affordable housing market in Scotland.LAR already has a portfolio of over 200 homes across nine different sites with many further projects in construction.