AS might be expected of a business which has been around for more than 60 years, Springfield Properties has not taken the decision to float on the stock market overnight. In fact, the Adam family considered making the move around ten years ago, only to decide the organic growth it was generating was sufficiently strong to put the idea on ice.

Given the expansion enjoyed by Springfield since, it appears to have been a wise decision. But the market and Springfield’s position is different now. The company, which has doubled in size in the last 10 years, has identified two major growth opportunities, in affordable housing and in the development of five new villages around Scotland, and requires the firepower to ensure it makes the most of them.

On the one hand, it could be observed that the broader economic conditions are not exactly conducive for bold action. With uncertainty continuing to linger over the direction of the Brexit negotiations, and the vote to leave the European Union already having a damaging effect on the economy, some investors are likely to be in cautious mood.

But, as Springfield notes, dealing with uncertainty is nothing new. After taking steps to “protect” the company during the last recession, by scaling back its land investment and moving into affordable housing, it went on to achieve impressive growth throughout the last decade.

Now, with plans to raise up to £25m through an initial public offering (IPO), there is every chance that sequence will be maintained in the next 10 years.