MNM Developments Scot has secured £7.7m in funding towards a new build property scheme in Edinburgh that will create 50 jobs for the local area.
The £11m project will see the residential property expert invest in larger, modern properties in Edinburgh city centre, meeting a growing demand from second time buyers looking for more space.
The venture, scheduled for completion in early 2017, will see the company work with local subcontractors exclusively.
Marc Teague, director at MNM Developments said: “It been an exciting year for us so far and we’re looking forward to providing a great selection of modern, high quality homes so close to the city centre.
“Meadowbank is a fantastic place for families and those looking to invest in property and we hope that the project will help support the area’s bright economic outlook.”
The 51 apartments on Marionville Road will be situated near local amenities and public transport links.
In addition to the main complex, MNM will also install a basement car park directly underneath the building to provide residents with secure parking in the city centre.
To support the build, the business has also invested in a suite of new equipment, including a crane, funded by an £120,000 asset finance facility from Bank of Scotland.
Graham Dunlop, relationship director at Bank of Scotland added: “This is the fourth project we have supported Marc and his team with and we’re confident it will be another major success.
“Residential property is an important sector for Bank of Scotland and we’re committed to providing tailored support to meet the individual growth strategies of our customers in the industry.”
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News Source: Business Quater