DOZENS of homes are set to be built in Clackmannan with groundworks on the multi-million development already underway.

Maven Property has raised £4.6million to fund sites in Renfrew and to the east of the Wee County town, off Burnside Crescent and the A907.

The project was launched in partnership with Ambassador Homes, which recently built homes at the far end of Tullibody.

Planning consent for both areas have been approved with a total of 94 private houses and 35 affordable homes included.

All told, the homes have a total sales value projected at around £20.6million.

The Clackmannan development is comprised of 77 family homes that will sit astride the Goudnie Burn.

Developers chose the site as the town benefits from the Forth crossings at Queensferry and Kincardine which improve travel times into Edinburgh.

The private homes are expected to be sold for between £145,000 and £240,000 and will be released for sale this month.

In addition, the development will include 35 affordable housing units, built under contract with Castle Rock Edinvar Housing Association.

The first housing completions are anticipated by July this year.

Colin Anderson, investment director at Maven, said: "We are delighted to be working with Ambassador Homes on these high quality residential development projects and are pleased to be able to play a small part in helping to address Scotland's well documented housing shortage.

"This is an exciting time to invest in the residential sector as house price growth has been and is expected to remain strong in the right locations and we are delighted to offer our Investor Partner network the opportunity to participate."

The Scottish residential sector saw a continued upward momentum in 2017, with market activity at its highest level since 2008 and house prices continuing to rise, underpinned by a lack of supply.

According to Savills the pent up demand has led to selling times across Scotland's cities dropping from 12 to nine weeks in the past year.

Gordon Coster, managing director at Ambassador Homes, added: "Having worked on the pre-development phases of these sites for over two years now, we are thrilled to have partnered with Maven to secure the funding to progress the developments at Clackmannan and Maitland Gardens.

"We are encouraged by the initial levels of interest in the properties and are confident that their optimum positioning in key commuter locations will result in a very strong uptake."

The council's housing spokesman said: "Clackmannan is part of the wider Alloa housing market and, according to the Housing Needs Demand Assessment, this market area requires at least 35 new social housing units and 14 for mid market rent each year for the next 5 years and beyond.

"The 35 new houses for social rent at Burnside, Clackmannan, due for completion in 2018/19 will help us address this need.

"An additional 5 units for mid market rent are to be available, together with commercial units in Clackmannan Main Street / North Street. These properties are part of the regeneration of Clackmannan town centre."