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Chap Homes invests £12m in completing apartments

Apartments - Aberdeen-based Chap Homes is to invest £12.5m - SantanderCB

Aberdeen-based Chap Homes is to invest £12.5m in completing a complex for over-55 homebuyers after concluding a deal to take full ownership of the project. The firm, part of the Chap Group, partnered with Bancon Homes in a joint venture to transform the site of a former hospital in the Aberdeen suburb of Milltimber. Chap has now bought Bancon's interest in the Woodland Grove development and has become the sole developer. Douglas Thomson, joint managing director of Chap Group, said: 'The deal represents a significant commitment to the North East housing market and reflects our confidence in the region's economy.' Chap Group has a £20m facility with Santander to support development and land opportunities.


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