30th Nov 2020 14:31
(Alliance News) - Springfield Properties PLC on Monday said it has been granted planning approval to build 75 homes for the private rental sector at its Bertha Park Village in Perth, Scotland.
Perth and Kinross Council has approved the construction of 75 houses for families to rent privately, which will comprise 22 two-bedroom terraced houses, 49 three-bedroom semi-terraced houses and four four-bedroom semi-terraced houses. Bertha Park Village also will include a convenience store, play park and secondary school.
This will be the Scottish housebuilding company's first development under a private rental sector partnership, which it entered in to with Sigma Capital in September last year. Springfield said the development of the PRS housing will provide it with a further revenue stream, strong cash flow visibility and will increase the build out rate of its villages.
Chief Executive Innes Smith said: "These high-quality, professionally-managed homes will be an asset to the community and attract those who might not yet be ready to buy but want to benefit from everything our villages have to offer. The development of PRS housing will also further diversify our revenue streams and provide additional visibility over future sales."
Shares in Springfield were up 5.0% at 119.75 pence in London on Monday.
By Zoe Wickens; [email protected]
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