Product category:
Estimating and Finance
News Release from: CALA Finance | Subject: Backing for MCA Homes
Edited by the Buildingtalk Editorial
Team on 12 September 2007
CALA Finance backs GBP12 million
development
CALA Finance has backed a GBP12m development by central Scotland developers MCA Homes in East Kilbride.
CALA Finance, the residential funding arm of Edinburgh-based residential and commercial property developer CALA Group, has backed a GBP12m development by central Scotland developers MCA Homes in East Kilbride CALA Finance, the residential funding arm of Edinburgh-based residential and commercial property developer CALA Group, manages a GBP120 million development fund and can provide up to 100% financial support and flexible deals, for small and medium sized property developers on projects with a gross development value of over GBP1 million
This article was originally published on Buildingtalk on 6 Oct 2006 at 8.00am (UK)
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Along with funding, CALA Finance offers advice on land acquisition, planning, development costing, construction and sales and marketing.
Working with a variety of companies, CALA Finance has helped build over GBP365 million of new build housing in Scotland and over GBP700 million throughout the UK since 1985.
MCA Homes will develop 80 new houses and apartments on the 3.5 acre site, located on Lindsayfield Avenue.
The development is ideally located within easy reach of many of East Kilbride's amenities, including a nearby supermarket, and is also bounded to the south and east by rolling open fields.
There is also easy access to the town centre and the major road links to Glasgow, Edinburgh and Stirling.
This is the fifth project CALA Finance has undertaken with MCA Homes, previously working on developments in Stirling, Cambusbarron, Stepps and Carstairs.
Raymond McCandlish, Managing Director, MCA Homes .: "We have worked with CALA Finance on several projects over the last 10 years and look forward to continuing to do so in the future".
"Working with CALA finance is not simply a matter of funding for the project, they have within their company a wealth of experience and expertise that can, and invariably does, prove invaluable".
Jim Ross, Managing Director of CALA Finance (Scotland) said the deal was about more than financial backing: "This deal came about as a result of the long standing and successful working partnership we have with MCA Homes".
"We don't just provide financial backing to our clients, on this occasion we were able to provide the site and the plans which MCA homes felt they could add to and develop".
"A deal like this is an excellent example of how CALA Finance and small or medium sized developers can come together.".
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