Funding gap plugged for ‘critical’ £24.6m Govan project

A funding package has been secured for the redevelopment of a site on the banks of the River Clyde in Govan.

It comes after Glasgow City Council committed just over £1.6 million in grant support to the Water Row project.

The local authority said the £24.6 million project will play a ‘vital’ role in both the regeneration of Govan and the waterfront, with work on the connecting Govan-Partick bridge set to start ‘soon’.

A masterplan for Water Row, approved by the council in 2019, outlines a mixed-use scheme providing 200 new homes and 3,500 square metres of commercial space when complete.

The first phase of the project will see the creation of 92 mid-market rented homes and six ground floor commercial units, with an initial package of enabling works funded through Clyde Mission now complete.

The main contract works for this first phase have been tendered by Govan Housing Association resulting in total project costs of £24,682,765, and despite assembling a funding package of more than £23 million from various sources a funding gap of just over £1.6million needed to be addressed before a contract can be awarded.

Glasgow City Council said, “Water Row has been identified as an investment priority for the Glasgow city region city deal and the delivery of the masterplan is regarded as critical to the regeneration of central Govan, which occupies a strategically important location at the centre of the emerging Glasgow Riverside Innovation District. Today’s decision by the council secures funding for the first phase of the masterplan.

“This city deal funding of £1,618,314 will contribute towards the costs of external works including public realm and the construction of commercial floorspace. Govan Housing Association is now in a position to award a contract allowing construction to start in April 2022.”