342 'sustainable' rented flats to be built on derelict land at River Clyde waterfront

Date08 April 2021
Publication Date08 April 2021
AuthorCarla Jenkins
Publication titleGlasgowLive (Scotland)
Development company Dandara Living has been awarded a £60million Green Revolving Credit Facility loan from HSBC UK with which they will fund the development.

The development, called 'City Wharf', will be located by the Clyde near the Broomielaw and Anderston Quay, on derelict land adjacent to the Kingston Bridge.

It is thought that the flats will be completed at the start of 2023.

The funding is aligned to the Loan Market Association's "Green Loan Principles" and one of the first sustainable finance facilities of its kind in the housing sector.

The grant is aimed to fund its existing pipeline of 11 sustainable build-to-rent developments across the UK with capacity to accommodate in excess of 4,500 new build-to-rent homes.

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Ed Tynan, Director of the Dandara Group, said: "As a large-scale Build to Rent developer and operator, we are committed to managing the social, economic and environmental impacts of our activities responsibly.

"In securing this new Green Revolving Credit Facility, we have increased our ability to deliver sustainable new homes which enhance residents' lives and add long-term social and economic value to the communities we operate in."

Robert King, Head of Sustainable Finance at HSBC UK, saod : "Residential housing is a substantial contributor to UK carbon emissions. Providing housing with strong sustainability credentials is therefore critical to meeting the UK's net zero goals.

"Supporting businesses such as Dandara in meeting their sustainability goals through the provision of innovative Sustainable...

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