Two developers have landed a £100 million regeneration project in a Scottish town – shortly after Balfour Beatty was brought in on a major highways contract.
Joint venture (JV) partners Hargreaves Land in Durham and Fintry Estates in Darlington have signed a new development deal with Falkirk Council to bring a major mixed-use scheme to the town.
Falkirk Gateway is a new residential and commercial development to the east of the town centre, next to the new Forth Valley College and Falkirk Stadium.
More than 120,000 sq ft of commercial floorspace to provide retail and leisure facilities is proposed on a 27-acre site, as well as 100 homes, food outlets including a new pub/restaurant, and a 120-bedroom hotel.
The Falkirk Gateway scheme is part of an ongoing regeneration effort in Falkirk, continuing over the coming years by the local authorities.
It is understood the scheme could mean up to 400 full and part-time jobs for the construction sector over the next 15 years.
The new development agreement between the council and the two developers paves the way for a planning application in late summer.
If the scheme put forward by Hargreaves and Fintry is approved by Falkirk Council later this year, on-site work is expected to start in the second half of 2024, with completion of the scheme anticipated in 2026.
The delivery of Falkirk Gateway is supported by a programme of major road improvement works in the town, including upgrading networks around Falkirk’s Westfield roundabout.
Balfour Beatty was recently made the engineering contractor on the multi-million-pound Westfield A9/A904 Improvement project, one of the “the largest and most significant” infrastructure investments under the council’s capital programme.
The project has also secured £14 million from the UK Government’s Levelling Up Fund.
The 28-month construction contract by Balfour will be finalised in July, thereafter unlocking work to widen carriageways, construct major crossing points, and implement vital road changes over the summer months.
Balfour has also collaborated with the council’s Procurement Team and Employment Training Unit to help develop wider community benefits.
“This is a significant step forward for the economic regeneration of the Falkirk area and brings massive investment as well as hundreds of jobs. It will transform an area that has been empty for many years and we look forward to seeing the delivery of the project by 2026,” said councillor Cecil Meiklejohn, leader of Falkirk Council.
“By agreeing to appoint Balfour Beatty, we will ensure a seamless transition from the early discussions with the firm to the construction phase.”
Duncan McEwan, director at Fintry Estates, added: “I’m very proud and excited to be working back in Falkirk, investing in the area and contributing to another significant chapter in the town’s long and illustrious history.”
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