Since Drummond’s appointment, he has built a pipeline of deals across residential, logistics, and office sectors. Pluto said these could support the construction of more than 2,000 new homes and deliver commercial assets that contribute to regional employment and economic activity.
“The Scottish market provides a considerable opportunity for tailored development finance, driven by strong demand from SME developers and a clear gap left by the withdrawal of traditional banks,” Drummond said.
“Pluto’s ability to provide fast, flexible and structured capital allows us to support a broad spectrum of development projects. We are one of the few lenders able to serve both large corporate and SME borrowers, offering leverage and pricing solutions that compete effectively with high street banks, challenger lenders and alternative finance providers. Establishing a permanent presence in Edinburgh strengthens our ability to deploy capital efficiently and reflects Pluto’s long-term commitment to the country’s housing delivery.”
Scotland faces an ongoing shortfall in new housing, with recent data showing that the number of new build starts has fallen to its lowest point in two decades, well below government targets.
Pluto Finance chief executive Justin Faiz said the new office reflects the firm’s view of Scotland as a key growth market.