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Burges Salmon acts on £40 million financing to support fibre broadband expansion across rural Scotland

Picture of Stuart McMillan
By Stuart McMillan
7 Oct 2025 2 min read

We have advised AlphaReal, the specialist real assets investment manager, on a bespoke £40 million lending solution to Highland Broadband, enabling the substantial expansion of its fibre network across rural Scotland. The Scottish National Investment Bank is also supporting the initiative with an additional £10 million.

The funding will allow Highland Broadband to accelerate its rollout of gigabit connectivity to digitally underserved towns and villages, helping to bridge the digital divide and unlock long-term economic potential across the region. The new network is expected to improve quality of life for residents and businesses, while laying the groundwork for future innovation and growth.

Our Edinburgh-based team advising AlphaReal was led by partner Stuart McMillan, senior associate Samir Younes and solicitor Emer O’Connell from our Banking and Finance team. They were supported by specialists across the firm advising on real estate, construction and commercial matters. We acted on the Scottish law aspects of the transaction, working in collaboration with law firm Fladgate, which advised on English law matters.

“We’re delighted to have played a part in facilitating this substantial new investment into Highland Broadband and the rural communities it serves. The roll-out will make a real difference to people and businesses, supporting jobs and boosting economic growth. It was a pleasure collaborating with Fladgate on this transaction, and it’s another example of Burges Salmon’s strong expertise in banking and finance deals in Scotland.”

Stuart McMillan, Partner

“We are delighted to provide this initial facility to Highland Broadband. We have extensive experience in providing bespoke lending solutions across the debt spectrum, and as we expand into digital infrastructure, we look forward to working with the team at Highland Broadband. It was a pleasure to collaborate with both Burges Salmon and Fladgate on this transaction. Their joint approach ensured a seamless and highly professional service throughout.”

Brad Bauman, Head of Alternative Credit at AlphaReal

Combining sector knowledge with banking and finance expertise, Burges Salmon provides tailored advice to support clients on complex transactions in the UK and internationally. Our energy capabilities were recognised in Clean Energy Pipeline’s 2025 Legal League Tables, with the firm ranked as the second most active law firm in clean energy M&A deals, in the top 10 Project Finance table and fifth in this year’s inaugural Influence Factor rankings.

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