Kirkwood Homes to expand with new credit facility

Aberdeen-based housebuilder Kirkwood Homes has announced plans to acquire six new sites in 2017 as it expands its operations to Inverness and Dundee.After doubling its credit facility to £20 million with Bank of Scotland, the family-owned business will use the funding to develop the new sites, which have a combined value of £77m.Kirkwood Homes plans to build more than 300 residential properties on the sites in response to increasing demand for high quality homes in the regions.With an annual turnover of £41.6m, Kirkwood Homes is one of the longest established property developers in the North East and is known for constructing large, detached homes with a premium specification.This venture will see the company expand its product offering and target the mainstream market with two, three and four bedroomed properties, aimed at first time buyers and those looking to move up the property ladder.The development of the sites will create 40 jobs in Inverness and 80 jobs in Dundee. Construction has already commenced on two sites at Slackbuie and Essich Road in Inverness which will deliver 75 housing units over the next two years.