Downing Property Finance funds sustainable Scottish developments with £11.6m

Downing Property Finance has backed Glasgow-based developer Carmichael Homes with an £11.6m funding package aimed at expanding sustainable property developments across Scotland. The finance, aligned with Downing’s commitment to environmentally conscious funding, supports two major projects under its sustainable lending framework.

The finance encourages borrowers to incorporate sustainable features like water management, carbon reduction, and biodiversity enhancement into their developments. Projects meeting these criteria can receive an interest rebate of up to 1%.

The first of these developments, The Fieldings in Jackton, East Kilbride, features 19 modern townhouses designed with sustainability at their core, without sacrificing luxury. These homes are noted for their green construction and energy-efficient features.

The partnership will also see the construction of 26 energy-efficient four-bedroom homes in Roslynlee, enhancing housing diversity on brownfield land and offering residents views of the surrounding countryside.

Scott Carmichael, managing director of Carmichael Homes, remarked on the partnership: “Our collaboration with Downing Property Finance has been instrumental in bringing our vision to life.

“Their tailored Sustainability-Linked Loan has enabled us to pursue this project with greater financial agility and underscores our shared values in championing sustainability in the housing sector.”

John Pollington, investment director at Downing Property Finance, commented on the developments: “The expertise and dedication Carmichael Homes has brought to these projects are exemplary.

“Both developments are a testament to their commitment to providing diverse and sustainable family housing within the stunning Scottish landscape. Carmichael’s skilled team’s efficient advancement of these projects has cemented our strong partnership.

“Their remarkable sustainability credentials resonate strongly with Downing’s sustainability-linked loan scheme, playing a pivotal role in the fruition of these developments.”