Springfield on course to build new Scots villages

Elgin-based housebuilder Springfield Properties said in a trading update it continued to make advances with the development of new villages it is building in the Dundee, Perth, Stirling and Elgin areas.

“Progress was made with the first village, Dykes of Gray in Dundee, where sales are ahead of the company’s target for the year to date,” said Springfield.

“In September, the first homes at Springfield’s new 3,000 home village in Perth went on sale and work on site commenced.

“The company will shortly be submitting the plans for another 3,000 home village at Durieshill, in Stirling, for planning approval and the legal agreement for 870 of 2,500 new homes for a village at the south of Elgin is being finalised.”

The trading update was for the six month period ended November 30, 2017, ahead of its interim results in February.

“The company made good progress in both the private and affordable housing divisions, which was underpinned by the continued requirement for more homes in Scotland for private individuals and across all tenures in the affordable and social housing sector,” added Springfield.

“As a result, the Company expects to report revenues for the first half of 2017/18 in line with management’s expectations and declare an interim dividend for the period.”