REGENERATION specialist Places for People has acquired Igloo Fund’s 50% share of BIGG Regeneration, a Joint Venture between Igloo Fund and Scottish Canals that was established to build sustainable homes in Scotland.
The move follows Places for People’s purchase of the assets of the wider igloo Regeneration Partnership Fund, as well as the fund’s JV holdings and property interests.
The BIGG Regeneration JV, working in partnership with Glasgow City Council, was formed in 2012 with the aim of helping to transform local areas.
Igloo Regeneration said the deal will help “accelerate” the development of a number of BIGG schemes, including the next phase of Maryhill Locks, a collection of 33 waterside homes in north Glasgow.
The existing BIGG team will continue to deliver and manage ongoing and future projects.
Katie Hughes, director of estates and commerce at Scottish Canals said, “We’re delighted to be partnering with Places for People to deliver the next step in the ongoing transformation of north Glasgow. From the thriving cultural quarter around The Whisky Bond and the urban playground at Pinkston Basin, to sustainable housing in Maryhill, we’ve already delivered some vitally-important projects along the Glasgow Canal. We look forward to working alongside Places for People to continue to deliver lasting positive change for the city and local communities.”
Gary Watt, development manager at igloo added, “The projects already delivered by BIGG Regeneration, in partnership with Glasgow City Council, including Maryhill Locks, have proved popular, picking up multiple awards and proving popular with buyers looking for urban living family homes as an alternative to the suburbs. The deal with Places for People will allow us to drive forward more schemes that have a positive impact on north Glasgow and its canal side communities; delivering homes which have been designed and constructed with the long-term in mind, for both people and planet.”
Chris Jones, managing director at Place for People Capital commented, “This is an exciting opportunity to partner with such an experienced team at igloo and further strengthen our position as a leading responsible real estate fund manager across a variety of housing tenures. Igloo shares our commitment to sustainable development and creating lasting, vibrant communities and we look forward to working with them, and the other partners, to deliver these exciting schemes.”