Cala Homes (West) has unveiled a £150 million investment in East Dunbartonshire along with the acquisition of a major site where it will build more than 130 homes.
The housebuilder, part of the Cala Group, has acquired a 19-acre brownfield site in Bishopbriggs.
The development at Jellyhill, close to established housing in the Meadowburn estate, has planning consent in place to provide 135 new homes, of which around 34 will be affordable housing.
More than half of the site will be dedicated to usable open space in an effort to “preserve and enhance” the current space.
Following the acquisition of the Jellyhill estate, Cala revealed it is set to invest £150m in the development of eight existing sites across East Dunbartonshire over the next six years.
The firm, which started as the City of Aberdeen Land Association in 1875 and was the first Scottish company listed on the London Stock Market, claimed this investment will create jobs, boost the local economy and help to deliver “vital new housing” to a popular area.
Cala said it is pushing forward with developments that will be able to account for around 23 per cent of housing supply for communities in Milngavie, Bearsden, Bishopbriggs, Lenzie and Kirkintilloch.
The housebuilder also announced a shift in focus towards smaller houses and developments with a greater proportion of flats, which will be geared towards the “young, upwardly mobile professional and the downsizer markets”, as it adapts in effort to capture changing demographics.
However, it will continue to deliver detached and family homes.
Cala said its multi-million pound commitment makes it “one of the biggest private sector investors” in the region.
Jim McIntyre, managing director of Cala Homes (West), said: “We have a proud track record of building high-quality homes in the area and this announcement further demonstrates a long-term commitment to East Dunbartonshire.
“We will continue to work alongside key stakeholders and local communities to deliver placemaking developments that meet their needs and those of the wider area.
“The £150m investment will not only deliver much-needed private and affordable housing, but it will significantly contribute to the economic growth of the area – creating new jobs and unlocking further investment opportunities.”
Cala is currently working alongside the Scottish Government to meet its 50,000 affordable homes target by 2020.
In March last year, the group was acquired by insurance, savings and investment management company Legal & General Group.