Corum are delighted to have been appointed selling agent for Station Wynd by Strathcarron Homes, an exciting new residential development in Glasgow’s Southside.
A £3m investment by the publicly backed Scottish National Investment Bank will see 25 family homes being built to be sold to local social housing tenants and first-time buyers in the Nitshill area of Glasgow.
The loan stipulates homes in the Station Wynd development must first be offered to local people, providing them an affordable opportunity to get on to the property ladder, while remaining in their community.
This investment aligns with the bank’s place mission, to invest in places and regeneration to reduce inequalities and improve opportunities and outcomes for people and communities.
Eilidh Mactaggart, chief executive of the Scottish National Investment Bank, said: “The regeneration of the current site, and priority for local buyers, means that these homes will be a valuable addition to increase access to affordable housing in the area, while bolstering the local community and enabling first-time buyers in Nitshill to stay in their community.”
The Station Wynd site, immediately adjacent to Nitshill train station, is a brownfield site currently part of the Glasgow Vacant and Derelict Land register.
The development aims to transform this derelict site to a modern housing development of desirable and liveable family two and three bed homes.
They developed under a development agreement between Strathcarron Developments and Glasgow City Council, with the site part of the council’s Nitshill Regeneration Framework.
The loan will be repaid by the developer from sales proceeds of the housing. The developer was unable to find finance from the high street banks, or other private sector finance to support this development.
Corum’s Head of Marketing Gordon McGuire, described the development as being an important project that will help fulfil the need for quality local housing. “Station Wynd has been in the pipeline for some time now, and the involvement and support of the Scottish National Investment Bank and Glasgow City Council has helped to finally bring it to fruition.”
“Nitshill area as an area has been pushing for regeneration in recent years and we have seen a significant rise in demand for quality housing in the area”.
“The biggest challenge the property market faces right now is a lack of stock, particularly within urban areas such as Nitshill, and the Station Wynd project will be a welcome addition.”
The project is being supported by a Partnership Support for Regeneration grant from the Scottish Government, administered by Glasgow City Council. The homes will be built to a high standard of energy efficiency, supporting Scotland’s transition to net zero.
