10th Sep 2019 14:12
(Alliance News) - Scottish housebuilder Springfield Properties PLC said Tuesday it has acquired the Easterfield Farm in Inverness for an undisclosed amount, marking the company's continued expansion into the Scottish Highlands.
Easterfield Farm is a 14-acre development of land, which will accommodate 90 homes. Springfield plans to start selling homes on the land later in 2019.
The acquisition will contribute towards Springfield's plans to develop 3,000 new homes in Inverness, and across Highland towns and villages, including Ardersier, Drumnadocht, Dornoch and Beauly.
"We expect to start selling homes at Easterfield later this year. The development, which is near to Drummossie Hotel, the University of the Highlands and Islands, Inshes Retail Park and just 15 minutes from Inverness Airport, will include of mix of private and affordable high-quality homes," said Chief Executive Innes Smith.
"In recent years, we've developed a stronger presence in Glasgow and Edinburgh, and we are already highly active in Dundee and Perth. Now we are in a position to include Inverness in our portfolio, which is the next step for our growth," Smith added.
Shares in Springfield Properties were up 3.8% at 106.425 pence on Tuesday in London.
Related Shares:
Springfield Pr.