Scottish housebuilder Springfield Properties has signed a new £15.3m contract with Highland Housing Alliance to deliver affordable housing across the region.
The group will receive £4.1m for a bulk sale of housing, which is scheduled to complete during the current financial year. The design and build phase of the affordable housing contract, which is valued at £11.2m, is due to start in the coming weeks.
Innes Smith, chief executive at Springfield Properties, said: “Since re-engaging with affordable housing providers, we have been greatly encouraged by the interest that we are receiving. Within the last eight months, we have signed contracts worth £40m with local housing authorities and other affordable housing providers. Alongside the design and build contract, we are pleased to have this opportunity to deliver a bulk sale that will support our overall sales rates as well as our focus on maximising cash generation.”
He added: “As well as contributing towards the Scottish government’s ambitious affordable housing targets, these homes will help meet the surge in demand for housing in the highlands with the Inverness and Cromarty Firth Green Freeport expected to bring 10,000 new jobs to the area.
“Our strong land-holding across the Highlands means we are well placed to assist with housing delivery and we look forward to working with HHA to provide these much-needed homes.”
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