Gloucester-based investment firm Blackfinch Property has announced plans to fund a new development of sustainable homes in Glasgow. The company is investing £11.1m in the scheme, which will be constructed by property developer Nixon Blue.
The development, in Partick, will include 48 two-bedroom flats with solar panels and waste-water heat recovery systems. Blackfinch says it is also targeting an EPC A rating – the highest energy efficiency score – on all the homes.
Construction work on the scheme started immediately following planning approval.
David Diemer, investment director at Blackfinch Property, said: “This project represents our ongoing commitment to support sustainable and strategic urban development across the UK. We are pleased to partner with Nixon Blue on a development which not only addresses the need for more housing but does so in a way that respects and enhances the local community and environment.”
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This investment marks Blackfinch’s third development loan in Scotland. The firm said the development aligns with its broader strategy to invest in “well planned, sustainable residential projects that contribute to urban vitalisation and sustainability”.
Richard McFadzean, director of Nixon Blue, added: “The designs are in keeping with the scale of Beith Street housing and the surrounding tenement buildings. As a popular residential area, we want the new apartments to support the regeneration of the Clydeside, as the new Govan/Partick Bridge will greatly link the city and its residents. Redeveloping this site will support, connect, and reinforce this area of Partick as a lively residential area.”
