Market Leads & Opportunities
Joint venture lands bank loan to build 140 homes on former campus
A Bank of Scotland development loan has paved the way for the delivery of more than 140 new homes at a former college site in Clackmannanshire.A joint venture between housebuilder Ediston Homes and the Housing Growth Partnership (HGP) secured a bank loan to build 145 homes in Sauchie.The 14-acre site is the former Forth Valley College campus, which was closed in 2012 and demolished.The development called Devongrange will bring a mix of terraced, semi-detached and detached houses of between two and four bedrooms, while 10 homes will be transferred to a registered social landlord.The deal, the value of which was not disclosed, is the fourth between the Bank of Scotland commercial real estate team and HGP and has helped to deliver 409 homes with £17 million in funding, as well as being the second agreement between the bank and Ediston Homes.
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