REG - Springfield Props. - Springfield signs £10m affordable housing contract

Springfield PropertiesAnnouncement

01/05/2024 07:15

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RNS Number : 7098M  Springfield Properties PLC  01 May 2024

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                                          +44 1343 552550

 Innes Smith, Chief Executive Officer

 Iain Logan, Chief Financial Officer

 Singer Capital Markets
 Shaun Dobson, James Moat, Oliver Platts (Investment Banking)  +44 20 7496 3000

 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
(https://www.thespringfieldgroup.co.uk/news/updates-and-analyst-reports)

 

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