East End regeneration has only just begun says Gateway boss
THE company behind Scotland’s biggest regeneration project has mapped out the £250m worth of construction and development activity that will take place inside its boundaries this year.
Clyde Gateway’s programme ranges from a speculative office development on the banks of the Clyde and the first phase of the Athletes Village for the 2014 Commonwealth Games, to constructing a business park and rebuilding a railway station.
Chairman Neil McDonald said: “The regeneration of the East End has only just begun and all of our partners are committed to the long-term nature of the project over a 20-year period. However, this incredible amount of activity in the current year, made even more remarkable by the fact that we are all caught up in a severe recession, is a sure-fire sign that many success stories are on their way.
“The message is that there has never been a better time for investors, developers and entrepreneurs to come and be part the exciting story that is happening here and now.”
In the first four years of its existence, the organisation has spent £80m on providing what it described as “a long-term and sustainable transformation”.
In addition, the two councils in Glasgow and South Lanarkshire have also been investing heavily in the area and the combined efforts are now resulting in “substantial” economic benefits with more than 700 permanent jobs locating in the offices, trade and business parks that have been built as well as those associated with the Emirates Arena.
In spring, work will begin on a £24m office development at South Dalmarnock, the £11m rebuild of Dalmarnock Station is due to complete this year and a £35m business park next to the M74 is being built in partnership with property companies MEPC and SCOT Sheridan.
MEPC chief executive Rick de Blaby said: “Clyde Gateway East is a important strategic acquisition for us where we hope to replicate and deliver the modern Hillington Park, a highly successful business estate we own in the west of Glasgow. The infrastructure that Clyde Gateway has committed to these particular areas of Glasgow and South Lanarkshire is enormous and we have been happy to invest alongside that. Indeed we would like to be in a position to extend that investment.”
Image – The Clyde Gateway East business park is one of the projects to attract new investment.