‘Briar Homes gets £7m from Bank of Scotland to build new homes’

Glasgow-based housebuilder Briar Homes has exciting news to share! They have recently secured a substantial £7.3 million funding package from Bank of Scotland and Housing Growth Partnership (HGP) to kickstart the development of 310 new homes, including 66 affordable properties. This funding boost marks the beginning of an ambitious project to provide highly efficient and modern homes to the community.

With Bank of Scotland being a longstanding partner of Briar Homes and HGP, the family-run developer has received an initial £5 million Revolving Credit Facility from the bank, along with an additional £2.3 million in equity from HGP. These funds will be crucial in accelerating the construction of homes across various sites including Howwood, Wishaw, Garthamlock, Barrhead, Gladsmuir, and Kennoway.

Construction is already underway for 10 four-bedroom family homes in Howwood, as well as 22 private homes in Garthamlock designed for first-time buyers. More homes, both private and affordable, are set to follow in Newmains, Wishaw, Barrhead, Gladsmuir, and Kennoway, catering to families, first-time buyers, and retirement downsizers.

Managing Director at Briar Homes, Paul Kelly, expressed his gratitude for the financial support from Bank of Scotland and HGP, emphasizing the importance of collaboration in addressing the housing market challenges in Scotland. He highlighted the need for new high-quality homes to meet the demands of families and individuals looking to enter the housing market.

Graeme Steel, director at Bank of Scotland Real Estate & Housing, reiterated the bank’s commitment to supporting developers in delivering quality homes for all types of buyers. Colin Bennett, investment director at Housing Growth Partnership, emphasised the long-term partnership with Briar Homes and their dedication to supporting the company’s growth plans.

Briar Homes, a subsidiary of AS Homes (Scotland) Limited, is dedicated to providing sustainable and affordable homes to the Scottish community. This recent funding injection sets the stage for an exciting phase of development, bringing much-needed housing options to families and individuals across the country.