AMA Homes has secured £3 million in one of the first Housing Growth Partnership investments, part of a drive to increase the supply of new homes and pump capital into the UK’s housebuilding sector.
The funding has helped the Edinburgh-based firm to complete a 34-unit townhouse and apartment project in the city’s Shandon area.
AMA Homes joint managing director Ali Afshar said: “We are particularly proud of this development, which has been carefully designed to ensure the aesthetics complement the existing colony style housing of the surround area.
“We’ve had a great experience in working with the Housing Growth Partnership throughout this process. The team really took the time to understand our business strategy. We welcome this investment, which will help us to accelerate our growth plans while remaining in full control of the business.”
Launched in July, the £100m Housing Growth Partnership is an initiative between the UK government and Lloyds Banking Group. The fund expects to make about 50 investments and fund the construction of 2,000 homes around the UK over the next three years.
Vic Hepburn, the partnership’s investment director for Scotland and the north-east of England, said: “The supply of housing is a key concern in relation to the UK’s long-term prosperity and small and medium-sized housebuilders are fundamental in helping to close that gap and provide much needed city centre living accommodation.
“AMA Homes is a highly experienced operator, spanning 30 years in the industry, with a passion for cutting-edge design, innovation and quality workmanship. The business has a strong track record of building high-quality developments and this investment will support the completion of the Shandon Garden development, a former brownfield site.”