Six-figure investment helps Aviemore firm fulfil green ambitions
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A NEW housing development for Aviemore is set to launch its first phase after the coronavirus crisis put work on hold.
The Peaks, a 38-plot development in the north-west of the village, is the latest project for local family-owned firm Allan Munro Construction, which specialises in building residential developments within the Cairngorms National Park and across the Highlands.
Due for completion in May, construction of The Peaks was paused for three months in response to the coronavirus pandemic, and only recently recommenced.
The work has been made possible with the help of a six-figure investment package from the Bank of Scotland, which has also allowed the inclusion of new features to improve its green credentials.
The package included a development loan and specific funding as part of the Clean Growth Funding Initiative (CGFI). This initiative is designed to encourage investment in a lower-carbon future by providing discounted loans for firms with ambitions to reduce their environmental impact.
Allan Munro Construction used this investment to install a biomass district heating system at The Peaks.
The new system will reduce the carbon footprint of the development and save homeowners at least 20 per cent compared to standard electricity costs.
Phase one of The Peaks is now due for completion next month and will include nine affordable rental units and five private three-bedroom terraced homes for sale.
Work on phase two, which will see the construction of 24 two and three-bedroom apartments for the private market, will commence in September.
Director Cameron Munro said: “The construction industry like most business has been hit hard during the pandemic. During lockdown we were unable to progress with works on site apart from selected landscaping and fencing works. Thanks to Bank of Scotland, we already had cash flow in place that meant we could quickly pick-up operations again as restrictions began to lift, putting us in a strong position.
“The sustainability aspect of the funding is a real benefit to our company as we were able to demonstrate through the use of sustainable heating systems and highly insulated timber frame systems that we could meet the criteria set out in the CGFI funding.
"We as a company are committed to building in the most sustainable way while meeting the demands of increasingly-environmentally conscious homebuyers.
“Despite the pandemic disrupting operations, we’ve already secured two sales for the phase one private houses and are ready to commence foundations within the next six weeks on phase two.”
David Henderson, relationship manager at Bank of Scotland, said: “Allan Munro Construction is one of many firms impacted by the recent lockdown measures. Learning to adapt during these challenging times and using our support has resulted in the business being in a strong position, ready to progress with plans for the second half of 2020.
“At Bank of Scotland, we’re committed to supporting businesses like this as we all work through these challenging times and prepare ourselves for future success.”
