City investment opportunities: Scotland & Ireland

Key development opportunities to keep an eye on in Scotland and Ireland Clyde Gateway, Scotland Location Just outside Glasgow city centre, accessible via the M74. Size 27 acres on the banks of the River Clyde. Value £280m total GDV, £240m investment sought for Magenta. Development potential 1.2m sq ft of offices. Planning status Planning permission in place. Investment type/opportunity Equity co-development, development funding, construction partnerships. Project time frame The first phase, a 34,980 sq ft business incubator, is on site and due for completion in 2017. Clyde Gateway and Highbridge Properties has launched what will be a new satellite business district for Glasgow and one of the largest office parks in the UK. Around £20m has already been invested in public realm and infrastructure in the area to unlock the site, including the new Clyde Gateway distributor road and the £11m newly upgraded Dalmarnock train station. At 1.2m sq ft, Magenta is the largest office scheme with planning consent in Scotland and offers short-, medium- and long-term investment opportunities. Developments already completed at the park include the Police Scotland regional headquarters and the 700-home Commonwealth Games Athletes’ Village. The scheme forms part of the legacy plans of the 2014 Commonwealth Games and neighbours the Emirates Arena, Sir Chris Hoy Velodrome and Celtic Football Club’s 60,000-seat stadium. The project is part of the £1.5bn Clyde Gateway regeneration, which currently includes 500,000 sq ft of completed office space and 2,000 homes. A further 2,000 homes are in planning. The total development area is 2,075 acres. [caption id="attachment_890421" align="aligncenter" width="847"] Titanic Quarter, Belfast[/caption] Titanic Quarter, Belfast Location Belfast city centre, fronting the River Lagan. Size 185 acres Value £365m Development potential 3m sq ft of commercial and residential space Planning status Full and outline consents for 3m sq ft. Investment type/opportunity Joint ventures across the whole site or individual phases. Project time frame Investor-ready now. There are already around 18,000 people who live, work and visit Titanic Quarter, home to the award-winning Titanic Belfast attraction – a nod to the birthplace of the RMS Titanic and the main production base for HBO’s award-winning TV series Game of Thrones. There has already been £425m invested in the scheme and further plans include the £50m Olympic House offices at North Yard, the £50m first phase of Financial Services Campus, a £30m media campus studio and post-production facilities, the £60m Hamilton Dock and Planters Yard and 2,000 apartments. As well as providing much-needed new office space, developing the media house studio would help to cement Belfast’s reputation as a frontrunner in the TV, film and creative sector. Game of Thrones is already proving to be a magnet for fans of the show, bringing tourist spend to the city.  Hunterston Port And Resource Centre Location Peel, North Ayrshire, 40 minutes west of Glasgow. Size 300 acres Value circa £600m Development potential Potential to develop bulk handling facilities for importing, processing and distributing dry and liquid bulk cargo, potential to develop facilities for large- and small-scale power generation, decommissioning vessels and oil and gas structures, materials management to ensure reuse and recycling, manufacturing to reduce supply-chain carbon. Planning status Port has permitted development status, and the full site is part of the Local Strategic Development Plan. Investment type/opportunity Opportunity to develop the site into an industrial cluster. Project time frame Investor-ready now. This deep-water port has long been tied with Scotland’s energy industry. Peel Ports Group, which owns the Hunterston PARC site, aims to move away from its historic uses as an ore processing centre and coal port to developing a hub for future energies. The group’s proposals span 300 acres of development land to establish facilities focusing on recycling and building modern forms of power generation. The aim is that the PARC will support Scotland’s circular economy strategy and around 100 acres of the scheme has been proposed for developing facilities focusing on decommissioning oil and gas structures. Its deep-water dock makes it the only place in the UK that is capable of taking a fully loaded cape-sized vessel, the largest type of bulk carrier ship, while its links with the Irish Sea open up deep-water import and export opportunities both locally and globally. Other projects Sirocco Quays, Northern Ireland A £400m scheme spearheaded by Swinford (owned by St Francis Group, Graftongate and Gulf Resources Development and Investment) to create a new quarter for Belfast. The proposed regeneration of the 16-acre site, which formerly housed Sirocco Engineering Works, will comprise around 740,000 sq ft of offices, 815 homes, and leisure facilities, including a 120-bed hotel, restaurants and shops. The addition of a pedestrian footbridge will create access from the Waterfront Hall and connect the site to the rest of the city. Lisburn & Castlereagh, Northern Ireland The city and borough master plan contains a series of major development projects across the city. These include developing a new hotel in Market Square and configuring the Irish Linen Centre, establishing a 300,000 sq ft business district at Linenhall Street, developing a new area linking to the district at Laganbank – with 160,000 sq ft offices and up to 400 homes. International Business Gateway, Scotland  [caption id="attachment_890422" align="aligncenter" width="847"] Albus, International Business Gateway[/caption] A 37-acre strategic development adjacent to Edinburgh Airport, including 250,000 sq ft of offices, 1,410 hotel rooms and 2,350 homes, split between PRS, market sale and affordable. Plans for phase one of the scheme for 130,000 sq ft of offices, 1,150 hotel rooms and 396 homes, have been submitted by Murray Estates, New Islington, Frogmore and Salmon Harvester. Investors are being sought to bring the project forward. Dundee Waterfront, Scotland Dundee Waterfront is a £1bn, 593-acre scheme spanning the River Tay. Its centrepiece, a new V&A museum, is due to open next year. Investment opportunities exist within the £500m Dundee City Council-owned Central Waterfront area, and include 2m sq ft of mixed-use development.