Springfield Properties is partnering with Barratt for the Durieshill development near Stirling.
Under the agreement terms, BDW Trading, Barratt Developments’ principal operating subsidiary, acquires half the land at Durieshill in exchange for funding the site’s infrastructure development over the next five years.
Barratt also provides a £10 million cash payment to Springfield.
Springfield expects involving Barratt to accelerate site development and avoid capital tie-up for five years.
Durieshill is planned for 3,000 new homes, forming a standalone sustainable village near Stirling, within commuting distance of Edinburgh and Glasgow.
It spans 600 acres, representing Scotland’s largest approved detailed housing development application, according to Springfield.
Springfield receives £10 million from the initial 34-acre land sale. The remaining land exchanges for infrastructure provision as development milestones are met.
Innes Smith, Springfield Properties’ CEO, said: “This partnership marks a significant milestone for Springfield due to the site’s substantial size.
“It underscores our extensive land holdings’ value in sought-after Scottish locations with planning permission.
“Barratt’s infrastructure support will enhance Springfield’s medium-term growth prospects, reduce risks, and optimize capital returns.”
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