Key property investors and professionals are to attend an event in Edinburgh later to hear how one Scottish regeneration company is helping the development community through the recession.

Irvine Bay Regeneration Company is holding the event in the Bonham Hotel today to emphasise the innovative and creative role that can be played by urban regeneration companies.

The company has been delighted at the response to the event, with most of those invited responding positively.

Irvine Bay Regeneration Company chief executive Patrick Wiggins said: "We are delighted to hold this event in Edinburgh, as the city is one of the centres for property expertise and investment in Scotland, and the industry here takes a national and international view.


"While we are not immune from the difficult economic times, the fact that our plans are long-term provides us with the ability to focus on important planning and preparation work, whilst helping to progress ongoing plans and developments."

Mr Wiggins believes the unique nature of URCs provides a creative approach which allows firms share both risk and potential profit with development partners through the provision of land rather than the straightforward sale of a site.

"We have also helped provide essential gap funding, and in another case we have been able to assist through the funding of site enabling work. All of this means that developers working with us can enjoy a higher degree of confidence."

Irvine Bay Regeneration Company seeks to develop and revitalise the five towns of Ardrossan, Saltcoats, Stevenston, Kilwinning and Irvine in North Ayrshire through a £100m, ten year programme to boost the local economy and make the area an attractive and prosperous place to live, work and to visit. Our partners are North Ayrshire Council, Scottish Enterprise and the Scottish Government.

(GK/JM)