Scores of family homes for private rental to be built in new Perth 'village'
The firm said it had been granted planning approval for 75 homes to be built at its Bertha Park development in Perth.
The move marks Springfield’s entry into the private rental sector (PRS), delivering purpose-built houses for families to rent. It is expected to provide the company with an “additional, visible and secure revenue stream”.
Bertha Park is one of the group’s “village” developments, comprising private and affordable housing, alongside neighbourhood amenities, such as a convenience store, playpark and secondary school.
Perth and Kinross Council has now approved the construction of 75 houses for families to rent privately, which will comprise 22 two-bedroom terraced houses, 49 three-bedroom semi/terraced houses and four four-bedroom semi/terraced houses.
Chief executive Innes Smith said: “We are delighted to have received consent to build our first houses for the private rental market, underscoring our commitment to develop mixed-tenure villages that meet everyone’s housing needs.
“These high-quality, professionally-managed homes will be an asset to the community and attract those who might not yet be ready to buy but want to benefit from everything our villages have to offer.
“The development of PRS housing will also further diversify our revenue streams and provide additional visibility over future sales.
“We look forward to delivering these houses for PRS at Bertha Park and, in due course, at our other village developments to increase housing choice and help set a new standard for the creation of successful, sustainable communities in Scotland.”
Last year, Springfield outlined plans to build hundreds of new family homes for rental across Scotland thanks to a new partnership deal.
Five cities were targeted – Dundee, Edinburgh, Inverness, Perth and Stirling – following the agreement between the housebuilder and Sigma Capital Group, the Edinburgh-based residential development and urban regeneration specialist.
Under the agreement, Springfield will build family homes for Sigma’s PRS property platform, with the majority of them to be built in the former’s village developments.
In September, Springfield reported a “strong increase in demand” since reopening its sites as buyers move out of city centres and into larger homes with gardens.
Releasing its full-year results, which were impacted by handover delays caused by lockdown, the group said private reservations were running 24 per cent ahead of the same period last year since reopening its developments.
Smith said: “During the year, ahead of the Covid-19 pandemic, we were delivering on our strategy, with notable successes across the business.
“As a result of the lockdown, the completion of homes scheduled to take place in April and May was postponed into 2020/21. However, with these sales under contract, we were able to complete the homes for handover to our customers early in the current financial year.
“Since resuming operations, we have seen a strong increase in demand, with private reservations 24 per cent above the same period last year.
“This reflects both the pent-up demand and the increasing desire for buyers to move out of city centres and into larger homes with gardens, which is the type of home that Springfield offers.”
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