Scotland
UK
Ireland
London
Construction News
20/02/2019
Preferred Developer Appointed For Falkirk Gateway Project
Hargreaves Property Ventures Ltd, a development partnership between Hargreaves Services plc and Fintry Estates Ltd has been appointed as preferred developer for the Falkirk Gateway project, Falkirk Council has announced
Falkirk Council took the decision that will see the area to the east of the town, adjacent to the new Forth Valley College and Falkirk Stadium, transformed with new retail, office and leisure opportunities.
A total of nine initial expressions of interest were received with a final two developers putting more detailed plans forward for a final selection by an assessment panel.
Further work on a 'heads of terms' agreement as well as a more detailed retail impact study will also take place.
Initial plans put forward by the preferred developers have highlighted large scale retail units; office space; leisure space; a hotel site; a drive through; food and drink units including a concept pub/restaurant.
Councillor Cecil Meiklejohn, Leader of Falkirk Council said: "Our plans to completely redevelop this area are making great progress and with the appointment of the developer, we are a significant step closer to creating new opportunities for the local economy and jobs.
"The creation of an 'urban quarter' at the Westfield/Middlefield site will transform the vacant area (lying between Falkirk and Grangemouth) and bring the 30 acre site into a location that will help promote economic growth. The capital receipts from the site will be ring fenced to aid the revitalisation of town centres."
Keith Aitken, Avison Young who represented Falkirk Council said, "Falkirk Gateway is a significant development opportunity for Falkirk and the wider Central Scotland region. It benefits from excellent transport links and proximity to the Helix & The Kelpies, Falkirk Stadium and the town centre. The proposals for the site will act as a further catalyst for economic growth and will prove to be a complimentary neighbour to the new Forth Valley College."
Falkirk Council is using the Tax Incremental Finance scheme (TIF) to fund road infrastructure and enabling works around the Gateway which has helped attract the current developer interest in the site. The £67 million scheme is expected to bring in £413 million in private investment into the area, creating almost 6,000 jobs and hundreds of apprenticeships.
Through the TIF mechanism the Council borrows to supply and improve infrastructure to help promote development in specific locations including the Gateway. Non-domestic rates income generated from the developments paid directly to the Council repay the infrastructure funding.
The TIF anticipates £67m of investment by the Council, levering a total of £176m in infrastructure improvements including improved links to the M9 motorway and Grangemouth Flood Prevention Scheme. This is anticipated to attract investment of over £400m and the completion of c400,000sqm of business space.
In addition to the TIF, Falkirk Council has developed an Investment Zone Business Case similar to growth deals established across a number of regions throughout the UK which will build upon, and be complementary to, the TIF programme.
The bid seeks £207m of funding for delivery of a package of works intended to promote economic opportunities in the Falkirk-Grangemouth area. It proposes a series of measures to create a sustainable, long term investment that creates a smarter, greener, resilient and a more inclusive place – 'a dynamic and distinctive area at the heart of Central Scotland'. It will create jobs, increase innovation, exports and productivity and attract private investment.
(MH)
Falkirk Council took the decision that will see the area to the east of the town, adjacent to the new Forth Valley College and Falkirk Stadium, transformed with new retail, office and leisure opportunities.
A total of nine initial expressions of interest were received with a final two developers putting more detailed plans forward for a final selection by an assessment panel.
Further work on a 'heads of terms' agreement as well as a more detailed retail impact study will also take place.
Initial plans put forward by the preferred developers have highlighted large scale retail units; office space; leisure space; a hotel site; a drive through; food and drink units including a concept pub/restaurant.
Councillor Cecil Meiklejohn, Leader of Falkirk Council said: "Our plans to completely redevelop this area are making great progress and with the appointment of the developer, we are a significant step closer to creating new opportunities for the local economy and jobs.
"The creation of an 'urban quarter' at the Westfield/Middlefield site will transform the vacant area (lying between Falkirk and Grangemouth) and bring the 30 acre site into a location that will help promote economic growth. The capital receipts from the site will be ring fenced to aid the revitalisation of town centres."
-- Advertisement --
Keith Aitken, Avison Young who represented Falkirk Council said, "Falkirk Gateway is a significant development opportunity for Falkirk and the wider Central Scotland region. It benefits from excellent transport links and proximity to the Helix & The Kelpies, Falkirk Stadium and the town centre. The proposals for the site will act as a further catalyst for economic growth and will prove to be a complimentary neighbour to the new Forth Valley College."
Falkirk Council is using the Tax Incremental Finance scheme (TIF) to fund road infrastructure and enabling works around the Gateway which has helped attract the current developer interest in the site. The £67 million scheme is expected to bring in £413 million in private investment into the area, creating almost 6,000 jobs and hundreds of apprenticeships.
Through the TIF mechanism the Council borrows to supply and improve infrastructure to help promote development in specific locations including the Gateway. Non-domestic rates income generated from the developments paid directly to the Council repay the infrastructure funding.
The TIF anticipates £67m of investment by the Council, levering a total of £176m in infrastructure improvements including improved links to the M9 motorway and Grangemouth Flood Prevention Scheme. This is anticipated to attract investment of over £400m and the completion of c400,000sqm of business space.
In addition to the TIF, Falkirk Council has developed an Investment Zone Business Case similar to growth deals established across a number of regions throughout the UK which will build upon, and be complementary to, the TIF programme.
The bid seeks £207m of funding for delivery of a package of works intended to promote economic opportunities in the Falkirk-Grangemouth area. It proposes a series of measures to create a sustainable, long term investment that creates a smarter, greener, resilient and a more inclusive place – 'a dynamic and distinctive area at the heart of Central Scotland'. It will create jobs, increase innovation, exports and productivity and attract private investment.
(MH)
Latest Construction News
11/02/2025
A new report from the University of Edinburgh has revealed the significant economic potential of Scotland's marine energy sector, with the potential to contribute more than £8 billion to the Scottish economy by 2050 and support over 15,000 jobs.
"The energy contained in Scotland's seas is a vast an
11/02/2025
Savills has brokered the sale of 98 Buchanan Street and 31 Royal Exchange Square, Glasgow, to Cervidae for £13.775 million.
The sale marks the conclusion of Old Park Lane Management's (OPLM) asset management plan in Scotland, as the company focuses on its core strategy of large-scale development in
11/02/2025
North Lanarkshire Council and NHS Lanarkshire have signed a Memorandum of Understanding (MoU) to collaborate on the delivery of two major infrastructure projects: the East Airdrie Link Road and the new University Hospital Monklands.
The MoU aims to ensure that the development of the East Airdrie Li
11/02/2025
Network Rail engineers are set to begin a £2.9 million project to renew both platforms at Hillington West station on the Glasgow – Paisley railway line.
Both platforms, which are 190 metres long, have reached the end of their service life and will be demolished and rebuilt with improved surfacing a
11/02/2025
West Lothian Council has reported a significant reduction in the number of empty council properties, commonly known as "voids," in recent months.
Currently, around 1.7% of all council properties in West Lothian are vacant, a significant decrease from over 500 properties in November 2023.
"This is
11/02/2025
Plans for a new offshore wind hub in Orkney have been accelerated with the announcement of a £5 million grant from Highlands and Islands Enterprise (HIE).
The funding will support the development of a new deep-water quay at Scapa Flow, enabling the assembly of offshore wind turbines at the site.
"
11/02/2025
Work has commenced on a coastal protection scheme in Kingston, Moray, designed to mitigate the impacts of erosion in the area.
The project, funded by the Scottish Government, will involve the construction of a 50cm high shingle bank between Lein Car Park and the main shingle ridge at the lagoon.
"
11/02/2025
The Scottish Land Commission has called for a stronger role for public land acquisition in addressing the rural housing crisis.
A new report published by the Commission highlights the need to utilise public land more effectively to ensure a steady supply of land for much-needed housing development
11/02/2025
Construction has commenced on a new mixed-use development in Linlithgow, comprising a 60-bed care home and 18 private apartments.
The 1.6-acre site, located near Linlithgow Train Station, will be developed by a joint venture between Morrison Community Care Group and CCG (Scotland).
"This new devel
11/02/2025
SSEN Transmission, the Perth-based electricity transmission company, has pledged its support to the Young Person's Guarantee, a Scottish Government initiative aimed at providing opportunities for all 16-24 year olds.
The company has reaffirmed its commitment to nurturing young talent in the Scottis
