Springfield Properties has signed its first main works agreement under a build-to-lease housing partnership with a major energy infrastructure provider in the North of Scotland.

The AIM-listed Scottish housebuilder will deliver furnished and serviced homes to accommodate workers involved in the partner's energy upgrade projects.

The agreement follows an initial deal announced by Springfield on 17 December 2025 to deliver 293 homes across six sites in the Highlands, Moray and Aberdeenshire.

The first site to progress to a main works agreement will comprise 39 homes, with Springfield expecting to sign a lease agreement for the development shortly.

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Under the arrangement, Springfield will receive a significant payment when the homes are handed over, followed by monthly rental income throughout the term of the lease.

The partnership forms part of a build-to-lease approach that Springfield said will provide the group with a combination of upfront payments and recurring rental revenue.

Innes Smith, chief executive officer of Springfield Properties, said: "We are delighted to have signed this milestone agreement under our partnership with a major energy infrastructure provider in the North of Scotland. This new approach to housing delivery gives us a significant payment on handover, income over the course of the multi-year lease, plus attractive options at the conclusion of the lease period. Now that we have established a framework for the contracts, we expect to sign build and lease agreements for further sites in the near term."