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: 

Date Project Description Amount
March 2020

NW1A Limited, Edinburgh via SPRUCE Fund

Funds will support the creation of c80,000 sq ft new Grade A office space at Edinburgh Park, Edinburgh

£5.25 million loan

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

VKRR Investments

Conversion of an office building in Falkirk into five new homes for sale

£634,660 loan

May 2019 Stewart Milne Helping to fund construction activity across three sites in Renfrewshire and the Lothians £13.5 million loan

April 2019

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

March 2019

Signal Capital via SPRUCE fund

Refurbishment and extension of 55 Douglas Street (formerly Cerium House, Glasgow)

£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