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Springfield Properties inks £18.2m development agreement for Glasgow scheme

Wed, 11th Mar 2020

Scottish house builder Springfield Properties said it had signed a £18.2m agreement with West of Scotland Housing Association for the development of 114 affordable homes and two commercial units in Dalmarnock, Glasgow. The development was part of the Clyde Gateway project - Scotland's largest regeneration programme - and would be jointly funded by Glasgow City Council and private finance provided by WSHA Lenders. Planning consent was already in place for the development and Springfield said it expected to commence construction in March and to complete handovers by the end of its 2022 financial year. 'The agreement improves Springfield's revenue and profit visibility by securing the revenue for this development as well as supporting cashflow with revenue recognised based on monthly valuation over the period of delivery,' the company said. At 8:05am: (LON:SPR) Springfield Properties Plc share price was +1p at 127.5p Story provided by

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