Building firm acquires commercial development sites

Scotland's largest affordable homes builder is to acquire numerous sites for commercial development, expanding its coverage into central Scotland.

Moray-based Springfield Properties, part of the Springfield Group of companies, has been trading since 1956. Alongside affordable homes, the development firm has also built well over 1,000 private homes to order over the last few years.

The commercial development funding it has secured from HSBC – to the tune of £10 million – will allow it to acquire land on which to build future commercial developments. Currently, the firm only operates in the north and north east of Scotland, but the acquisitions will see it expand into the central part of the country.

Sandy Adam, Springfield Properties' chairman – and grandson of its founder - said, “The funding and services supplied by [the lender] will allow us to pursue our long term plan to acquire land at a time when land and property offer a great return, and this is value that we can pass on to our customer.”

Alongside commercial property development, Springfield Properties also specialises in the surveying and removing of asbestos as well as commercial and residential letting.

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