Ambassador Group receives £21m loan for 70-home Bangour Village development

Ambassador Group receives £21m loan for 70-home Bangour Village development

Aerial view of the Bangour site

Property and investment company Ambassador Group has secured a £21 million loan from OakNorth Bank to fund the development of over 70 new homes at the group’s latest site at the historic Bangour Village, as well as ongoing infrastructure works.

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.

David Gaffney, CEO of Ambassador Group, said: “We are delighted to announce the first release of handpicked homes at the spectacular Bangour Village Estate.

“Our work in partnership with the local community and key stakeholders has been vital towards the area’s successful transformation into a thriving new destination that can be enjoyed by residents, locals and visitors alike.

“After being impressed with OakNorth’s reputation for backing experienced and entrepreneurial housebuilders, they were the clear funder of choice.

“Fraser and the OakNorth team provided a great level of flexibility and transparency, and we look forward to working with them again on future developments.”

Fraser McPhail, senior director of debt finance at OakNorth, added: “The Ambassador Group is a perfect example of the innovation and entrepreneurialism that’s on show within the UK’s real estate sector.

“The firm’s successful track record for delivering homes that are thoughtfully designed, energy efficient and have an industry leading specification speaks for itself and we’re thrilled to support its unique and iconic Bangour Village development.

“Scotland is an integral part of OakNorth’s growth strategy, and we continue to see a strong opportunity from businesses in the region looking to pursue their growth ambitions.

“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.”

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