Blackfinch Property has provided a £11.1m development loan to Nixon Blue for a residential scheme in the Partick area of Glasgow.
The development will provide 48 two-bedroom flats on a site featuring a host of green technology, including solar panels and waste-water heat recovery systems.
The investment is Blackfinch’s third development loan in Scotland and aligns with the company’s 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: “This project represents our ongoing commitment to support sustainable and strategic urban development across the UK. We are pleased to partner with Nixon Blue on a development which not only addresses the need for more housing but does so in a way that respects and enhances the local community and environment.”
Richard McFadzean, director of Nixon Blue, added: “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.”
