Building Scotland Fund
The three year Building Scotland Fund (BSF) was announced in the Draft Budget 2018 to 2019 and is the precursor to the Scottish National Investment Bank.
It will invest £150 million over financial years 2019 to 2021. Loans and equity investments are made at commercial rates or in compliance with EU state aid regulations.
To date, BSF has agreed investments of £100 million to housing across all tenures, regeneration, industrial and commercial property projects:
|March 2020||Rikeja Development Ltd||Conversion of existing former hotel and extension to construct 11 apartments in the Scottish Borders||£1.64 million loan|
|November 2019||Larkhill Properties Ltd via SPRUCE fund||To fund the refurbishment of McLellan Works (formerly Breckenridge House), Sauchiehall Street, Glasgow||£5.25 million loan|
|October 2019||Athron Hill||The development of 35 new homes in Perth and Kinross. SME investment||£4.6 million loan|
|October 2019||Axil Estates Ltd||The conversion of a former steading into eight new homes in Perth and Kinross. SME investment||£1.6 million loan|
|May 2019||Stewart Milne||Helping to fund construction activity across three sites in Renfrewshire and the Lothians||£12 million loan|
|Chancerygate Ltd via SPRUCE fund||
Development of Livingston Trade Park, bringing industrial capacity to West Lothian which will provide local jobs and deliver inclusive growth
£2.18 million loan
The development and construction of between 1500 to 1800 new build houses for rent
These homes will be in suburban settings across the central belt of Scotland, suitable for couples and families
This is a Build to Rent (BTR) project, meaning that the homes will be professionally managed
|£30 million (revolving credit facility over 10 years)|
|Signal Capital via SPRUCE fund||
£12.38 million loan
|January 2019||Winchburgh Developments Limited||Assisting the development of more than 3,000 new homes in West Lothian as part of a wider package of Scottish Government support||£26.8 million loan|
|December 2018||SPRUCE fund||Scottish Partnership for Regeneration in Urban Centres||£25 million|
Delivery of the fund
Public sector bodies involved in the delivery of the Building Scotland Fund are: the Scottish Government, Scottish Enterprise, Highlands and Islands Enterprise, the Scottish Funding Council and the Scottish Futures Trust.
BSF continues to actively seek eligible opportunities for investment. For more information on the fund and how to apply see: Building Scotland Fund: how to apply