The development of the 48-unit project, consisting of two-bedroom flats, is set to be undertaken by Nixon Blue.

The scheme is set to include solar panels and waste-water heat recovery systems, as well as encourage cycling and public transport usage — the development is aiming to achieve EPC A ratings.

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The project marks Blackfinch’s third development loan in Scotland, with construction commencing immediately after planning approval.

David Diemer, investment director at Blackfinch Property said, “This project represents our ongoing commitment to support sustainable and strategic urban development across the UK.

“We are pleased to partner with Nixon Blue on a development which not only addresses the need for more housing but does so in a way that respects and enhances the local community and environment.”