Prime Highlights:
- Whiteburn Projects Limited secures £7.79 million in funding to deliver 62 new homes in Peebles, including 12 affordable homes.
- The investment will create jobs, support suppliers, and boost the local economy while regenerating a former industrial site.
Key Facts:
- The funding includes a £6.56 million development loan from the Scottish National Investment Bank and £1.23 million equity from the Housing Growth Partnership.
- The affordable homes will be owned and managed by the Scottish Borders Housing Association.
Background:
Whiteburn Projects Limited has secured a total investment of £7.79 million to develop new housing in Peebles, Scottish Borders. The funding includes a £6.56 million development loan from the Scottish National Investment Bank and £1.23 million in equity finance from the Housing Growth Partnership (HGP) through its Regional Growth Initiative.
This marks HGP’s second investment with Whiteburn, helping the company unlock housing delivery across multiple sites. The project will see 62 high-quality, sustainable homes built, including 12 affordable homes that will be owned and managed by the Scottish Borders Housing Association.
Eve McCurrich, Managing Director of Whiteburn, said she is proud of the support from HGP and the Scottish National Investment Bank. She said the funding will help the local economy, create jobs, support suppliers, and build much-needed homes in rural areas.
Nicola Douglas, Executive Director of Investment at the Scottish National Investment Bank, added, “SME housebuilders are vital to addressing Scotland’s housing shortage. This investment shows our commitment to supporting local communities and delivering sustainable homes,” said Nicola Douglas from the Scottish National Investment Bank.
Colin Bennett, Investment Director at HGP, added, “Our Regional Growth Initiatives let us invest in projects that make a real difference locally. We are excited to see the positive impact this development will have in Peebles.”
The partnership between Whiteburn, HGP, and the Bank highlights a growing focus on investments that support both the local economy and community development in Scotland’s housing sector.
