Housebuilder banks £21m loan as plans for 1,850 new homes brought forward
Summary
One Scottish real estate business hailed \xa321 million funding for the first of almost 1,000 new homes at a former hospital site.Glasgow-based Ambassador Group is developing the huge estate and now has backing from OakNorth for the first 74 homes.The loan from OakNorth will be used to develop the new homes at Ambassador Groups latest site located at the historic Bangour Village in West Lothian, as well as support infrastructure works.READ MORE: Scottish developer secures funding for first of 998 new homesThe 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, caf\xe9 and restaurant, as well as transport links to both Edinburgh and Glasgow.There are a number of listed buildings on the West Lothian site (Image: Ambassador Group)David Gaffney, owner and chief executive of Ambassador Group, said it is delighted to announce the first release of handpicked homes at the spectacular Bangour Village Estate.There was more good housing news after a plan for more than 250 new homes was given the green light in the wake of a controversial coin-toss decision buy councillors.Artisan Real Estate said it is to progress with the homes-led redevelopment of one of Edinburgh city centres largest potential sites following planning approval.A coin was earlier literally tossed over an increase to Artisans Section 75 Education contribution, which this time was voted through in line with the planning officers recommendation. It followed an earlier amendment that suggested the developer pay \xa33m instead of a pre-set \xa31m contribution, which placed the project "in jeopardy".READ MORE: Green light for over 250 new homesThen, in Glasgow, plans for nearly 600 new homes for Cowcaddens by Keppie Design for developer Global Mutual were approved.Also this month, I broke the news that Business leaders are overwhelmingly opposed to plans to extend parking charges to 10pm in Scotlands largest city.Thousands came forward as the news came out that Glasgow would bring the further charge to help meet required budget savings of \xa3107 million.This article first appeared in this months Business HQ MonthyAlmost 15,000 signed a petition calling on the city council to abandon the future move, and business representatives said a separate survey showed one in four restaurants and pubs fear they could close as a result.I also revealed that business leaders called for the 10pm parking charge policy to be reversed "amid widespread dismay in the business community.READ MORE: Glasgow charges will close one in four restaurants, pubsGlasgow Chamber of Commerce said that "the majority of Glasgow businesses have voiced their opposition to the city councils plans".Stuart Patrick, Chamber chief executive, told The Herald: "It is difficult to think of another policy which has received such an overwhelmingly negative response across all sectors. "This has a real risk to jobs and businesses across the city and we urge the council to listen to their concerns and reconsider their approach. "A Glasgow City Council spokesman said that changes to pay and display hours in parking zones were agreed as part of a budget that required to find \xa3107m worth savings from council services over the next three years, adding: By standardising parking hours across all zones we are aiming to provide the maximum benefit for permit holders seven days a week.The outcry had the desired effect with the city council announcing on March 27 that its plan for the city centre had been put "on hold".READ MORE: Glasgow parking charges plan put on hold after backlashIn a Herald exclusive as part of our Scotland & Alcohol series, I reported that talks are to begin on the new "back to the drawing board" set of proposals on alcohol advertising restrictions.It was also revealed that there will be "targeted engagement", as businesses brace for restrictions they fear could be costly, while public health professionals said it is "vital ministers put the health and wellbeing of people in Scotland ahead of industry profits".In one of my best-read Business Week columns this month, a senior figure in real estate spoke out about the impact of rent price controls.Will Scarlett, founder and director of Scarlett Land and Development, said there has been "incalculable damage to the Scottish economy" and with "no new supply, demand is off the scale".In response to the concerns raised, Patrick Harvie, Tenants Rights Minister, told The Herald: "Analysis highlights a variety of views on rental sector reform, and these findings have been carefully considered in our proposals to deliver a New Deal for Tenants."