Avison Young Scotland advise on deal for Falkirk redevelopment26 Feb 2019
Avison Young, sole selling agents on behalf of Falkirk Council, have arranged a significant land transaction at Falkirk Gateway that will further support the regeneration of Falkirk.
Falkirk Council approved the selection of Hargreaves Property Ventures Ltd as preferred developer. They propose a substantial mixed-use development that consists of 27.25 acres at Falkirk Gateway which already accommodates The Helix, The Kelpies, Falkirk Stadium and the new Forth Valley College which is due to open in September 2019.
Keith Aitken, Avison Young, 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”
Councillor Cecil Meiklejohn, Leader of Falkirk Council said: “Our plans to completely redevelop this area are making great progress and with the appointment of Hargreaves Property Ventures, 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 27.25 acre site into a location that will help promote economic growth.”
The proposed plans will be taken forward by Hargreaves Property Ventures Ltd, a development partnership between Hargreaves Services plc and Fintry Estates Ltd, who were appointed as the preferred development for the Falkirk Gateway project. Initial plans put forward 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.
Falkirk Gateway has been financed to date via a bespoke Tax Incremental Finance (TIF) scheme which has funded enabling works and infrastructure improvements across Falkirk District.
Hargreaves were represented by Biggart & Co.