Scottish housebuilder, Springfield Properties, has announced that it has signed an initial agreement with Scottish Hydro Electric Transmission plc to deliver close to 300 homes in the North of Scotland as part of SSEN Transmission’s investment programme to upgrade the national electricity transmission grid and to help deliver UK energy security.
The deal will see the housebuilder deliver 293 homes at six sites across Highland, Moray and Aberdeenshire, with the homes to be leased for an initial four-year period to accommodate workers involved in SSEN Transmission’s energy upgrade projects.
At the conclusion of the lease period, the Group will have multiple options, including making the housing available for private housing sales or sales to private rented sector providers, as well as sales to affordable housing providers to secure a lasting legacy for the communities.
The Group is continuing to discuss further agreements with SSEN Transmission and other major infrastructure providers to deliver new housing on a similar basis to support the upgrade of energy infrastructure in the North of Scotland.
Springfield has also released its half-year trading update, with trading for H1 2026 in line with management’s expectations.
For the six months to 30 November 2025, the Group expects to report revenue of c. £106million, a slight increase from £105.6million the previous year. Springfield had also reduced its net bank debt to c. £40million, improving significantly from £62.9million in 2024.
In private housing, there was an increase in average selling price during the first half, which partly mitigated the expected reduction in completions. Springfield says that, while the market remained subdued, it anticipates an upturn in consumer confidence following the recent publication of the Budget, with the announced measures being less severe than had been widely predicted. As a result, and along with normal seasonality, the Group expects to deliver higher private housing revenue in the second half of the year.
The Group saw strong growth in the number of completions of affordable housing, and has now almost all of its forecast FY 2026 revenue for affordable housing activity delivered or contracted, and the remainder under negotiation. Accordingly, the Board remains confident of achieving revenue growth in affordable housing for the full year.
The Group continues to make selective land sales and interest in its large, high-quality land bank remains strong.
Innes Smith, CEO of Springfield, said: “We are delighted to have signed our first agreement to provide housing to support the delivery of crucial infrastructure upgrades across the North of Scotland. The build and multi-year lease of housing will allow us to receive income over the course of the lease as well as having additional attractive options at the conclusion of the lease period. We are continuing to discuss further projects with SSEN Transmission and other infrastructure providers, and we remain very excited about the substantial opportunities in the North of Scotland.”
“Turning to our trading, we are pleased to have performed in line with our expectations for the first half, including a significant reduction in bank debt compared with this time last year. In private housing, we are hopeful that an increase in consumer confidence following the publication of the UK Budget, along with expected interest rate cuts, will provide a boost to homebuying in 2026. We are continuing to perform well in affordable housing, with almost all of our FY 2026 forecast revenue already delivered or contracted. Accordingly, we remain on track to deliver results for the full year in line with market expectations and look forward to reporting on our progress as each of these initiatives progresses.”
Rob McDonald, managing director of SSEN Transmission, added: “This agreement with Springfield represents a milestone in our housing legacy commitment. It’s more than just bricks and mortar – it’s about creating long-lasting value for communities, providing much-needed homes and supporting the workforce delivering vital grid upgrades. Alongside our other housing agreements, we are proud to be working in partnership with Springfield to deliver homes that will benefit local people for decades to come.”
