Loan granted to build homes for community
£3m investment made with focus on supporting first-time buyers to stay in area
ASOUTH SIDE community will benefit from a £3 million investment to create 25 high-quality family homes. The Scottish National Investment Bank will build houses to be sold to local social housing tenants and first-time buyers in Nitshill.
The loan stipulates that homes in the Station Wynd development must be offered to local people first, giving them an affordable opportunity to get on the property ladder while staying in their community.
The development will include two and three-bedroom homes that will be built to a high standard of energy efficiency supporting Scotland’s transition to net zero.
Eilidh Mactaggart, CEO of the Scottish National Investment Bank, said: “These family homes will allow local people to buy a good quality, energy-efficient, first home with excellent public transport links.
“The regeneration of the current site, and priority of local buyers, means that these homes will be a valuable addition to increase access to affordable housing in the area, while bolstering the local community and enabling first-time buyers in Nitshill to stay in their local community.”
The site, which lies adjacent to Nitshill train station, is a brownfield site currently part of the
Glasgow Vacant and Derelict Land register.
The homes are being developed under an agreement between Strathcarron Developments Limited and Glasgow City Council, with the site part of the council’s Nitshill Regeneration Framework.
The £3m loan will be repaid by the developer from the sales proceeds of the housing. Strathcarron developments director Dallas Rhodes said: “Station Wynd is an important project that has been in the pipeline for some time now, and the involvement and support of the Scottish National Investment Bank and Glasgow City Council have helped to finally bring it to fruition. Improving derelict spaces like this can help evolve whole communities and we hope it will have a really positive impact for the local area and lead to further investment.”
The sale of the development will be led by Corum, which has significant experience in the area.
Corum’s head of marketing Gordon McGuire said: “The Nitshill area has been pushing for regeneration in recent years and we have seen a significant rise in demand for quality housing in the area.
“The biggest challenge the property market faces right now is a lack of stock, particularly within urban areas such as Nitshill, and the Station Wynd project will be a welcome addition.”