OakNorth has provided a £21 mln (€25 mln) loan to Ambassador Group, a privately owned, Scottish-based property and investment company, to develop 70 homes in West Lothian, Scotland.
The units include 51 detached and semi-detached homes and 23 flats, that will offer residents extensive green spaces, as well as EV charging points as part of the group’s wider sustainability commitment.
The OakNorth funded homes will be part of the wider Bangour Village Estate, a 215-acre site that is set to consist of 998 homes, a primary school and nursery, café/restaurant, as well as transport links to both Edinburgh and Glasgow.
Fraser McPhail, senior director of Debt Finance at OakNorth, added: 'Following the opening of our Glasgow office in summer last year, OakNorth is ready to step up to the plate and support businesses in Scotland at a time when other lenders may be unwilling or unable to.'
