Achi news desk-
A Scottish real estate business has hailed £21m funding for the first of nearly 1,000 new homes on a former hospital site.
Glasgow-based Ambassador Group is developing the huge estate and now has backing from OakNorth for the first 74 homes.
The loan from OakNorth will be used to develop the new homes on Ambassador Group’s latest site located in the historic Village of Bangour in West Lothian, as well as carrying out infrastructure works.
READ MORE: Scottish developer secures funding for first of 998 new homes
The homes funded by OakNorth will form part of the wider Bangour Village Estate, a 215 acre site which will include 998 homes, a primary and nursery school, a cafe and restaurant, as well as transport links to Edinburgh and Glasgow.
David Gaffney, owner and chief executive of Ambassador Group, said he was “delighted to announce the release of selected homes for the first time in the spectacular Bangour Village Estate”.
There was more good housing news after a scheme for more than 250 new homes was given the green light following a controversial decision to toss coins to buy councillors.
Artisan Real Estate said it will proceed with the redevelopment of one of the largest potential sites in Edinburgh city center after receiving planning permission.
Earlier a coin was literally tossed over an increase to Artisan’s Section 75 Education contribution, and it was voted through this time in accordance with the planning officers’ recommendation. It followed an earlier amendment which suggested the developer pay £3m instead of a default contribution of £1m, which put the project “at risk”.
READ MORE: Green light for over 250 new homes
Then, in Glasgow, plans for almost 600 new homes for Cowcaddens by Keppie Design for developer Global Mutual were approved.
Also this month, I broke the news that Business leaders were “overwhelmingly opposed” to plans to extend parking charges to 10pm in Scotland’s biggest city.
Thousands turned out as news broke that Glasgow would bring in the further charge to help meet the required £107 million budget savings.
This article first appeared in this month’s Business HQ Month
Nearly 15,000 signed a petition calling on the city council to stop future moves, and business representatives said a separate survey showed one in four restaurants and pubs feared they could close as a result.
I also revealed that business leaders have called for the 10pm parking charge policy to be reversed “amid widespread dismay” in the business community.
READ MORE: Glasgow charges ‘close one in four’ restaurants, pubs
Glasgow Chamber of Commerce said “the majority of Glasgow businesses have voiced their opposition to the city council’s plans”.
Stuart Patrick, chief executive of the Chamber, told The Herald: “It’s hard to think of another policy that has had such an overwhelmingly negative response across all sectors.
“This has a real risk to jobs and businesses across the city and we urge the council to listen to their concerns and reconsider their approach.”
A spokesman for Glasgow City Council said that “changes to pay and display hours in parking zones were agreed as part of a budget that needed to find savings worth £107m from council services over the next three years”, adding : “By standardizing parking hours across all zones we aim to provide maximum benefit to license holders seven days a week.”
The protest had the desired effect with the city council announcing on March 27 that its plan for the city center had been postponed.
READ MORE: Glasgow parking charges scheme postponed after backlash
In a Herald exclusive as part of our Scotland & Alcohol series, I said discussions were to begin on the new set of “back to the picture” proposals on alcohol advertising restrictions.
It was also revealed that there will be “targeted engagement”, as businesses brace for restrictions they fear could be costly, while public health professionals said it was “vital for ministers to give the health and wellbeing of the people of Scotland ahead of industry profits”.
In one of my best-read Business Week columns this month, a senior figure in real estate spoke about the impact of rent price controls.
Will Scarlett, founder and director of Scarlett Land and Development, said there had been “immeasurable damage to the Scottish economy” and “without new supply, demand is off the scale”.
In response to the concerns raised, Tenants’ Rights Minister Patrick Harvie told the Herald: “The analysis highlights a range of views on reforming the rental sector, and these findings have been considered careful in our proposals to present the New Deal to Tenants.”
