Pluto Finance closes £2.5m residential development loan in Edinburgh

Pluto Finance are delighted to share the closing of a £2.5m residential development loan to Ruthven Wallace Developments in partnership with Barwood Capital’s Residential Investment Platform. The transaction was led by Jamie Drummond our Lending Director in Scotland.

Funding will allow delivery of 8 beautifully designed two bed apartments in a prime and highly sought after Edinburgh Newtown location. The site is currently disused and has become unsightly and will be transformed by the project allowing the new occupants to enjoy the very best of Edinburgh City Centre living.

Jamie Drummond, Lending Director commented “I’m absolutely delighted to be able to support Ruthven Wallace Developments and Barwood Capital bring this superbly located site back into use and allow future occupiers the opportunity to live in apartments of the very highest quality in terms of design and build, and in such a top location. It was a pleasure to work with Aidan Ruthven, Kevin Wallace, Barwood Capital, CBRE, Emerson Bond Group Limited, Gillespie Macandrew LLP, and Milne & Co”.

Aidan Ruthven commented: “Pluto Finance were able to put together a development funding package which met our requirements and we’re looking forward to working with them as we build out the site”.

Pluto Finance’s team in Scotland have recently opened an office in Edinburgh to support the Scottish property development industry and are very proud to be bringing smart funding solutions to the market.