£3m for Edinburgh firm
AMA Homes benefits from partnership fund
The funding has helped the Edinburgh-based firm complete a 34-unit townhouse and apartment development in Shandon Garden in the city.
The £100m partnership, launched in July 2015, is a dedicated initiative between the Government and Lloyds Banking Group which invests between £500,000 and £5m in housing developments alongside regional builders.
The fund expects to make around 50 investments and fund the building of 2,000 homes over three years.
The partnership has made an equity investment alongside AMA Homes, which has been at the forefront of Edinburgh’s conservation and redevelopment programme for the past 30 years.
Vic Hepburn, investment director for Scotland and the North East for the partnership, said: “The supply of housing is a key concern in relation to the UK’s long-term prosperity and small and medium-sized housebuilders are fundamental in helping to close that gap and provide much needed city centre living accommodation.”
Ali Afshar, joint managing director, AMA Homes, said: “We’ve had a great experience in working with the Housing Growth Partnership throughout this process. The team really took the time to understand our business strategy. We welcome this investment, which will help us to accelerate our growth plans while remaining in full control of the business.
“We are particularly proud of this development which has been carefully designed to ensure the aesthetics complement the existing colony style housing of the surround area.”
AMA Homes is the Housing Growth Partnership’s third deal following investments into Devonshire Homes in the South West and Campbell Buchanan in Cambridgeshire.