The Courier & Advertiser (Fife Edition)
Springfield delight at Tayside sales
Scottish housebuilder Springfield Properties has reported that sales of its Dykes of Gray development in Dundee are ahead of the company’s targets.
The firm said it is making good progress on five new village style developments across Scotland, which also includes a site on the outskirts of Perth.
The five villages, which will incorporate 10,000 homes overall on completion, have a gross development value of £1.5 billion.
In September, the first homes at Springfield’s new 3,000-home village in Perth went on sale and work on site commenced.
The company will soon be submitting the plans for another 3,000-home village – at Durieshill in Stirling – for planning approval, and the legal agreement for 870 of 2,500 new homes for a village at the south of Elgin is being finalised.
The company, which has 500 staff, is also working on an affordable housing development in Muirhouse, Edinburgh.
Springfield raised £25 million when it listed on the Alternative Investment Market in October.
In the trading update the firm said: “The company made good progress in both the private and affordable housing divisions, which was underpinned by the continued requirement for more homes in Scotland for private individuals and across all tenures in the affordable and social housing sector.
“As a result, the company expects to report revenues for the first half of 2017-18 in line with management’s expectations and declare an interim dividend for the period.”