Housebuilder Tulloch today said it will celebrate its 90th anniversary this year by returning to the Central Belt, having exited the region in the wake of the 2008 recession.
The Inverness-based firm, one of the north of Scotland’s largest housebuilders, said it was to spend £40 million on developing two sites – East Kilbride this spring, and Glenrothes in the second half of the year. The move is on the back of recent growth, with two developments in Aberdeen also in the pipeline.
Tulloch said it withdrew to its “Highland stronghold” amid the tough conditions of the recession, but was now benefiting from the “new drive and confidence” after the management buyout, backed by Goldman Sachs and private equity group TPG, announced last March.
Tulloch chief executive George Fraser – who was among those leading that deal – said the Central Belt projects are “statements of intent and we’ll look at building wherever the right opportunity arises”.