Westpoint Homes has unveiled plans to deliver 750 new homes in Scotland over the next five years, supported by lending partner Close Brothers Property Finance.
The Scottish housebuilder currently has more than 250 homes under construction across four sites in Scotland, alongside an existing pipeline that will bring forward 750 new homes in total.
Ian Rigby, managing director of Westpoint Homes, said: “Close Brothers Property Finance’s willingness to take the time to properly understand our business needs and provide bespoke facilities has been central to our ability to deliver the high quality, crafted homes we have been building across the country for 40 years.
“Knowing we have the team at Close Brothers supporting us gives us the confidence to invest in our business and bid for sites. Their support has allowed us to unlock equity from completed projects and recycle that capital into the next one which means we can keep scaling our business, hiring more people and taking on increasingly ambitious development projects, including our landmark Finnieston site.”
Gary Ferris, business development director at Close Brothers Property Finance, added: “Scotland is building fewer homes than at almost any point in the past decade. SME housebuilders have the sites, the skills and the appetite, but too often they are constrained by the shape of the funding available to them. Westpoint’s 750-home pipeline shows what becomes possible when a developer has certainty over five years rather than one scheme at a time.
“Our commitment to housebuilders and developers in Scotland is unchanged. What is changing is the range of what we can fund alongside it. Larger facilities, revolving structures and the ability to back PBSA and BTR mean we can keep supporting customers as their ambitions grow, rather than reaching a ceiling.”
