A joint venture between CALA Homes and West Coast Capital will see the construction of over 3,000 new homes in West Lothian.
Private equity partnership West Coast Capital (WCC), the owner of Winchburgh Developments Limited (WDL) has made an agreement with CALA Homes to invest in the development and delivery of the overall masterplan across 347 hectares at Winchburgh, outside Edinburgh, with WDL being jointly owned.
The joint venture, alongside a tripartite agreement between the Scottish Government, West Lothian Council and WDL, has secured the future of the development, which is to include a total of 3,450 new homes, new schools and a range of infrastructure including improved transport links, a new marina, a 75-acre district park and 35 acres of employment land.
The agreement will now see WDL delivering the overall masterplan that will unlock sites up to a total of 3,450 homes for multiple housebuilders, with some 700 affordable houses and more than 400 for social rent.
Sir Tom Hunter, founding partner, WCC commented, “Both West Lothian Council and the Scottish Government have played a critical role in securing this long-term development for Scotland.
“Having already delivered over 558 homes in the first phase with five national housebuilders we now look forward to moving forward with many more housebuilders to deliver much needed homes for West Lothian in the next phase of development.”
As part of the overarching agreement, West Lothian Council will build new state-of-the-art schools. The schools will be forward funded by the council with support from the Scottish Government. This will ultimately be paid for by housebuilders across West Lothian via receipts from the roof tax as housing is developed.
The Building Scotland Fund is supporting WDL’s infrastructure investment by lending the joint venture £26.8 million towards the development on a secured and interest bearing basis.
Phase one of Winchburgh saw private housebuilders Barratt Homes; Miller Homes; Bellway; Stewart Milne Homes and Taylor Wimpey active on site. West Lothian Council’s housing department and Wheatley Group, through its subsidiary West Lothian Housing Partnership, delivered an additional 96 affordable housing units for social rent.
CALA chief executive, Kevin Whitaker said, “We are delighted to be partnering with West Coast Capital to help fund and deliver a high quality, sustainable development that will bring multi-tenure housing, education and infrastructure to West Lothian. Following the acquisition of CALA by Legal & General last year, we have the appetite, expertise and capability to work on ambitious large-scale projects such as Winchburgh.
“West Coast Capital has worked incredibly hard over the last eight years to bring the site to this advanced stage. We now look forward to working with them and other stakeholders to deliver the next chapter of this exciting project, including the Scottish Government and West Lothian Council whom have played a pivotal role in the progression of the development.”
Paul Davidson, managing partner at WCC said, “This joint venture with CALA is truly transformational for WDL and the overall Winchburgh development and we look forward to working with CALA, West Lothian Council and the Scottish Government to realise the ambition and vision of the Winchburgh development.”
John Hamilton, CEO, Winchburgh Developments Limited added, “It’s a huge achievement for all parties involved to have reached this point where the plans we have made can start to become a reality. The masterplan for Winchburgh goes far beyond building new homes. This is set to be one of the most exciting placemaking projects in the UK, which will bring new education facilities, a significant number of permanent jobs, and improved transport links to the area.”
