A STRING of housing projects have been given the go ahead by Tulloch Homes in a move that will create some 180 jobs.
The developments, which amount to an investment of £30 million, come as the Inverness-based firm racks up its best half-yearly sales performance in five years. It is the latest housebuilder to report a recovery as buyers head back into the market.
Four of the five projects will be in the Inverness area, while the company is also returning to Aberdeen after a gap of more than a decade.
The investment approval has been granted by banking giant Goldman Sachs and TPG, the private equity house, after the pair bought out Lloyds’ 40 per cent holding three months ago.
Chief executive George Fraser said: “This represents our largest combined investment in almost a decade and it is good news for our employees and our supply chain and sub-contractors. It is also extremely encouraging for the construction industry, which is so important to the Highland economy.
“This will create 100 jobs in Inverness, plus 30 in Aviemore and 50 in Aberdeen. This is in addition to the 170 construction jobs currently sustained in our existing developments.”
He revealed that, in the six months to the end of June, sales were up 15 per cent on the same period a year earlier.
Among the latest schemes are a £7m redevelopment of Hedgefield House in Inverness to create a range of “luxury apartments” and a £5m new phase of 20 “executive homes” at High Burnside, Aviemore. The Aberdeen project – involving 46 flats – is worth £10m.
Fraser added: “We have a history of working in Aberdeen but that discontinued over ten years ago, although we have carried out developments in Aberdeenshire.”