Airlie Green Low Energy Homes Ltd secures property development loan from Assetz Capital
Airlie Green Low Energy Homes Ltd, an eco-housing developer based in Perth, has secured a £1.16m development loan from specialist lender Assetz Capital. This follows the success of a previous loan provided by Assetz to the housing developer last year.
Located in Alyth, a historic Perthshire village just of the A926, the new Airlie View Site will comprise of four three-bed semi-detached bungalows, as well as four semi-detached houses. The site is in a small village location with a population of approximately 3000 and is expected to be complete in February.
Last year, Assetz provided a £1.38m loan to Airlie Green through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS), in order to assist the developer with the initial construction costs of the housing scheme.
The agreement is the latest in a strong succession of loans lent by Assetz Capital to SME property developers. The company has lent nearly £1.5bn of retail and institutional funds to UK businesses to date, and funded the building of around 1 in every 12 new homes built by SME developers in the last couple of years.
Borrower Steven Duffy commented: “We can’t wait for the homes to be released on to the market in February, and to see them being lived in by local families in Alyth. The fact that we are able to bring low-energy homes to Perthshire at a time when the industry is really challenging housing developers with regards to carbon neutrality is really exciting.”
Lucie Martin, relationship director at Assetz added: “The Airlie Green homes development comes off the back of a great year for Assetz in terms of its work with property developers. We’re really achieving our goal to tackle the UK housing crisis. To be able to fund a project which aims to do this whilst also having sustainability at its core is an added bonus.”