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Plan for 750 new homes in South Ayrshire moves 'one step closer'

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dailyrecord.co.uk
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Ayr moved one step closer today after the agreement of a major financial deal.The proposed Corton development would see 750 new homes erected in a scheme led by Allanvale Land Investments.Retail, employment and local community facilities are also set to be included on the 125-acre plot, valued at £18m.It forms the majority of a two-part masterplan which has outline planning permission.Specialist lender Reditum Lending has now provided Allanvale with a bridging loan of £10.8m for the development.Allanvale is planning to bring a number of high-profile national housebuilders on board, with contracts valued at over £45m.The Reditum loan will be used to repay existing finance and to purchase the second masterplan site.The facility is set to be.

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