1 May 2024
Springfield Properties plc
("Springfield", the "Company", the "Group" or the "Springfield Group")
Springfield signs £10m affordable housing contract
Springfield Properties plc (AIM: SPR), a leading housebuilder in Scotland focused on delivering private and affordable housing, is pleased to announce that it has signed a new contract, worth £10.1m, with Moray Council for the delivery of affordable housing.
The Group will receive funds from the sale of the land to Moray Council in the current financial year and the design and build phase, which accounts for the vast majority of the contract value, is due to be delivered over the next 18 months.
The development is being funded by Moray Council and The Scottish Government. It is part of the Moray Growth Deal, which is designed to boost economic growth across the region, including through a project to deliver hundreds of affordable homes, and brings together Scottish and UK governments, Moray Council, public and third sector organisations and private businesses.
Innes Smith, CEO of Springfield Properties, said: "We are pleased to have been awarded this latest affordable housing contract from Moray Council, which is a long-standing partner of Springfield. As part of the Moray Growth Deal, it reflects the importance of housing delivery to driving economic growth - and the recognition of this importance by the Council and Scottish Government. With our strong land-holding across the region and established relationships, we are well-placed to be awarded further contracts under this project to provide much-needed homes."
Enquiries
Springfield Properties | |
Sandy Adam, Chairman Innes Smith, Chief Executive Officer Iain Logan, Chief Financial Officer | +44 1343 552550 |
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Singer Capital Markets | |
Shaun Dobson, James Moat, Oliver Platts (Investment Banking) | +44 20 7496 3000 |
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Gracechurch Group | |
Harry Chathli, Claire Norbury, Henry Gamble | +44 20 4582 3500 |
Analyst Research
Equity Development and Progressive Equity produce freely available research on Springfield Properties plc, including financial forecasts. This is available to view and download here:
https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports
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