ReGlasgow

MILESTONE For New Clyde Bridge At Renfrew

16 August, 2024 | News

THE first operational closing of the new Renfrew Bridge across the River Clyde has taken place, bringing it a step closer to opening to the public.

The testing of the first opening road bridge across the river marks a significant milestone on the project as construction firm Graham continue commissioning works ahead of the official opening later this year.

The bridge will connect Renfrew and Clydebank and Yoker directly for the first time and will open up work, health, education, and leisure opportunities, stimulating investment and development in the riverside area.

Jim Armour, project director said: “This is a great milestone which demonstrates that all the hard work from the full team over the last two to three years has been a success.

“It was great to see the bridge closing for the first time in such a smooth, controlled, and seamless operation.

“The next stage of the project is to conduct commissioning which includes reliability and operational testing, with a number of opening and closing procedures to ensure the whole structure is working safely and efficiently. We are all looking forward to the official opening.”

Renfrewshire Council Leader Iain Nicolson said: “It’s fantastic to see this project continue to progress and move through significant milestones as we continue to show that we can deliver significant infrastructure projects successfully.

“It’s part of an ongoing programme of transformational capital investment in Renfrewshire and the Glasgow City Region which will benefit people now but also generations to come, and I’m looking forward to seeing this new transport link completed later this year.”

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Here’s just some development products that may be of interest.

Residential development funding Scotland: For projects from £750,000 to circa £50,000,000, this facility is typically for the purchase and ground up development costs of new build residential projects, large residential refurbishment projects or commercial projects with the loan repayment coming from the sale proceeds or re-financing to a term loan.

Bridging loans for property development Scotland: This facility is typically used for projects ranging from £50,000 to £3,000,000, covering purchase and development costs of anything from one-bedroom flats to large commercial-to-residential conversions, as well as smaller new build developments like a single detached house or gap site projects of 6–12 flats.

Build to Let Development Finance: Build to Rent projects also known as Build to Let are gaining traction, with this facility funding projects from £750,000 to £50,000,000, typically for large-scale refurbishments and new build residential flats. The development finance transitions to a long-term commercial mortgage upon completion.

Below market value property funding: Below Market Value Bridging Loans allow you to borrow up to 100% of the purchase price when the property’s purchase price is lower than its open market value, helping you maximise leverage opportunities and make the most of discounted property deals.

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