RoundShield and Ambassador Group have secured a c. €24.6m funding line to facilitate the construction of over 70 new homes at the historic Bangour Village Estate site in Scotland. This amounts to c. €82.3m. The announcement also includes news of a partial land sale of 5.89ha to Barratt Homes for the development of 179 private residences, once initial infrastructure works are completed. Barratt is anticipated to start construction on site this spring.
The c. €24.6m loan from OakNorth will not only support the delivery of the initial 74-home phase of development but also contribute to ongoing infrastructure improvements at the Bangour Village site in West Lothian. The initial phase will deliver c. 25.9ha of new build homes, including 51 energy-efficient new-build homes and the first 23 refurbished apartments within existing listed heritage buildings retained on the Estate.
These new homes will become part of the larger Bangour Village Estate, an ambitious redevelopment nestled in approximately 87 hectares of woodland. The project aims to introduce up to 998 energy-efficient homes to a distinctive new village settlement just outside Livingston, benefiting from excellent transport links to Edinburgh and Glasgow. As part of the initiative and development plans, 13 listed heritage buildings will be retained and refurbished, and 20% of the new-build homes will be designated as affordable housing. The brand-new community will also enjoy amenities such as a primary school, nursery, playing fields, and a commercial hub comprising a supermarket, café/restaurant, and other retail facilities. The village's expansive woodland areas will be mostly preserved, enhancing its natural allure.
The Estate's design incorporates cutting-edge energy-efficient technology, including a central district heating system, EV charging points, and extensive green spaces for residents.
Image provided by Hanbury Strategy.
Europe Real Estate — an overview of real estate developments in European countries.
