TULLOCH Homes has teamed up with not-for-profit developer, HHA, to deliver 75 new homes for mid-market rent (MMR) across three developments in Inverness, Kirkhill and Aviemore.
Supported by funding from the Scottish Government, The Highland Council, and the Highland City Region Deal, the £15 million contract will see ‘high-quality and energy-efficient’ properties tipped to attract and retain people who want to work and live in the region.
MMR homes are typically lower than private rental costs and slightly higher than affordable housing rates.
On completion, there will be 30 two and three-bedroom homes available in Inverness and Kirkhill. Aviemore will benefit from 45 apartments and cottage flats.
Tulloch Homes will complete the construction of the properties for HHA who will secure tenants and manage the lettings process. 20 homes across all three developments are almost complete, with the first residents expected to move in from early 2024. The construction of the remaining 55 homes will continue throughout next year, with phased move-in dates expected until late 2025.
The Inverness and Cromarty Firth Green Freeport (ICFGF) was recently established. The freeport aims to become a global hub for green energy and is anticipated to create more than 10,000 new jobs in the Highlands alone, as well as attracting over £3 billion in fresh investment. New homes for workers will be critical to support the freeport.
Gail Matheson, CEO at HHA said, “Ensuring that we have purpose-built, high-quality rental opportunities in Aviemore and Inverness is intrinsic to the success of the Highland economy. The rental market in the north of Scotland right now is frighteningly pressurised and if we do not prioritise the creation of such homes then the situation will only worsen.
“By partnering with Tulloch Homes, we are proactively protecting the supply of new rental homes in prime locations that are fairly priced for many families and individuals within the region.”
Sandy Grant, MD at Tulloch Homes, added, “By introducing MMR homes at three of our flagship developments, we are future-proofing communities and ensuring a vibrant mix of homes. Crucially, we are delivering high quality homes across different tenures, allowing us to create communities that cater to different demands. New research recently published by Homes for Scotland (HFS) highlighted the alarming reality that over a quarter (28%) of households in Scotland face one or more forms of housing need. Partnerships such as this are vital to create an inclusive and agile housing system.
“HHA has a proven track record of delivering MMR homes and we’re looking forward to working together as we progress our strategic partnership that aligns with both The Highland Council and Scottish Government’s ambitious housing targets.”
