Under permission granted by Aberdeenshire Council, the firm will create a total of 102 homes, comprising 78 three, four and five bedroom detached homes as well as 24 affordable homes which are a mix of cottage flats and two and three bedroom houses.
As part of its investment in the Lochside of Leys development, the company is making a “significant contribution” to the local economy as part of its planning obligations. This will help fund a primary school and the town’s community, recreational and healthcare facilities.
Allan Clow, managing director of Bancon Homes, said: “Lochside of Leys is a fantastic destination to call home and our homes there have been in high demand as buyers swap city living for a more rural location with greater outdoor space in response to the ongoing lockdown restrictions.”
Meanwhile, fellow housebuilder Robertson Homes has expanded its presence in the east of Scotland with the purchase of two sites with a combined development value of £45 million.
The company acquired seven-and-a-half acres in East Calder, near Livingston, in late November and six acres in Winchburgh, close to Edinburgh Airport, in December.
Construction work has already commenced on both sites with the first completions due for September 2021.
Together, the schemes will see 123 homes delivered over the course of the next two years as part of the company’s targeted strategy for further growth in the region.
John Murphy, managing director at Robertson Homes, said: “Robertson already has a good reputation and brand awareness in the east of Scotland and these two acquisitions are perfect sites and locations for us.
“Both developments form part of existing residential development masterplans, offering excellent commuter links to Edinburgh and great local amenities, including good schools for growing families.
“The village locations are an ideal setting for our design-focused family homes and will offer buyers large living spaces and plenty of open, outdoor green space to enjoy.”
The firm’s latest land acquisitions follow on from another purchase, at Newton Mearns in East Renfrewshire, where it recently launched a development of 42 homes.