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. 

As of June 2019, BSF has allocated £94 million to housing, regeneration, industrial and commercial property projects: 

Date of announcement Project Amount
17 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

21 May 2019

VKRR Investments

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

£634,660 loan

Stewart Milne

Helping to fund construction activity across three sites in Renfrewshire and the Lothians

£12 million loan

29 April 2019

Sigma Capital Group

Enabling 1,800 properties to be built for private rent 

£30 million loan

25 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

11 March 2019

Signal Capital via SPRUCE fund

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

£12.38 million loan

10 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