Blackfinch has set out plans to invest £11.1m into financing a residential development in Glasgow.
The project, undertaken by Nixon Blue, is located in Patrick and will provide 48 two-bedroom flats.
The development is targeting EPC A ratings. It will feature green technology, including solar panels and waste water heat recovery systems. It also aims to support cycling and public transport usage, to reflect a “commitment to sustainable urban living”.
The deal marks Blackfinch’s third development loan in Scotland. The investment firm said it aligns with a broader strategy to invest in “well-planned, sustainable residential projects that contribute to urban vitalisation and sustainability”.
David Diemer, investment director at Blackfinch Property, said the development will address the “need for more housing” in a way that “respects and enhances the local community and environment”.
Richard McFadzean, director of Nixon Blue, said: “The designs are in keeping with the scale of Beith Street housing and the surrounding tenement buildings. As a popular residential area, we want the new apartments to support the regeneration of the Clydeside as the new Govan/Partick Bridge will greatly link the city and its residents. Redeveloping this site will support, connect and reinforce this area of Partick as a lively residential area.”
Image © Nixon Blue
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