Link, one of Scotland’s largest providers of affordable housing and support services, shared secrets of its sustainability funding success with Scottish Housing Minister Paul McLennan.
The Minister also went on a tour of Link’s multi-award-winning development in Dalmarnock during the visit, where he met Link’s Chief Executive Jon Turner, Link Group Financial Director Nick Pollard, Colin Culross, Link Group Commercial Director and Managing Director of C~urb, Link’s property-focused commercial arm, as well as Managing Director of McTaggart Construction Ltd Janice Russell on Thursday, October 26. The project is also delivered in partnership with McTaggart Construction Ltd, who are bringing properties for sale as part of the outright process.
He learnt about how Link has recently secured a £70 million funding package with Bank of Scotland linked to Sustainability Loan terms and a groundbreaking £80 million worth of funding from Scottish Widows in 2021/22, which, at the time, saw Link become the first Scottish social housing provider to access an Environmental, Social, and Governance (ESG) linked loan on this scale.
Nick Pollard, Link Group Financial Director, said: “Link has been working to find alternative and sustainable funding sources for several years so we can develop thriving communities.
“I was delighted to share with the Minister for Housing, Paul McLennan, the steps we have taken to secure additional income in a time of economic uncertainty. I’m hugely heartened he is interested in our work and will share our best practices with colleagues in the Scottish Government.”
Paul McLennan, Minister for Housing, said: “The right to a warm, safe and affordable home is critical to wellbeing and is a right everyone deserves. Link Group play a valuable role in increasing the range of affordable housing available throughout Scotland, and I was delighted to visit this development, which the Scottish Government has supported with over £60 million. This funding has supported Link to provide 302 high quality, energy efficient affordable homes in Dalmarnock and a further 81 homes were provided by McTaggart Construction.
“High quality housing is a key pillar of Housing to 2040, whilst also eradicating fuel poverty and homelessness and ensuring everyone has access to green space and essential services. McTaggart Construction play a key role in building high-quality homes and I welcome these new affordable houses in Dalmarnock.”
Colin Culross, Link Group Commercial Director and Managing Director of C~urb said: “It was a privilege to welcome the Minister to Riverside Dalmarnock, which was funded in partnership with Link, the Scottish Government and Glasgow City Council. The development is a fantastic example of a range of housing that meets the needs of this vibrant community.
“These homes are a true example of regeneration and has won five prestigious housing industry awards, demonstrating quality and partnership working at its very best.”
Janice Russell, Managing Director of McTaggart Construction, said: “Providing quality affordable homes will make a real difference to Dalmarnock for generations to come and we are delighted to be supporting the regeneration of the community. Our partnership with Link and the Scottish Government to sell and build these fantastic properties as part of the first project backed by ESG funding is both exciting and a blueprint for a sustainable future in delivering vital affordable housing.”
Riverside Dalmarnock will deliver 562 homes for social and mid-market rent, alongside affordable home ownership to the Scottish Government’s shared equity scheme, which is managed by C~urb and properties for outright sale by McTaggart Construction Ltd.
