River Clyde Homes is to progress with a significant regeneration of Greenock’s James Watt Dock after securing £127m of new borrowing to progress the build.

The cash will fund delivery of 1,000 homes for social rent, 750 of which are to be delivered over the next three years, including over 144 dock-side flats designed by Chameleon as part of a £19m investment.

Celebrating one of the largest borrowing deals to have been secured in recent years Richard Turnock, executive director, group services, at River Clyde Homes said: “We are delighted to have retained our relationship with both of our lenders who have supported us since our launch a decade ago. Securing this additional funding is a major milestone for River Clyde Homes, enabling the delivery of our asset management strategy and providing the foundation for further growth of our business.”