Investment

Long-term plan could create 3,500 jobs in Fife–

Investment of £45 million in Fife’s industrial estates is planned in a bid to bring more businesses to the area and create employment.

This follows research highlighting growing obsolescence of Fife’s industrial and office stock, poor development economics preventing new private sector development and reduced availability of quality property to attract high-value businesses,

Factories of the future will be created by constructing new industrial and commercial stock in conjunction with the private sector.

The boost, which it is hoped will be part of the Edinburgh and South East Scotland City Region Deal, would ensure technology parks and industrial estates have cutting-edge digital capability and energy compliance.

It is estimated up to 3,500 jobs could be created over 20 years.

An estimated 130,000 sqft of new offices, industrial space and storage and distribution facilities will be created and around 100 acres of employment land made available for development.

Strategic business clusters targeted will be Dunfermline, Glenrothes, Inverkeithing, Dalgety Bay, Rosyth and Kirkcaldy, Levenmouth and Lochgelly.

The Deal aims to create new economic opportunities and provide over 21,000 new jobs, with investment of up to £600m over the next 15 years.

There is evidence the scarcity of quality office stock coupled with a growing confidence in Rosyth Waterfront as a commercial hub is driving investor demand, as seen by the recent sale by developer Scarborough Muir Group of its Aquarius Court office investment at the £250 million Queensferry One development to investment company Hamcap (Strathclyde) BP for £1.22m.

Queensferry One spans 120 acres and is a combined industrial, office, warehousing and leisure space which is expected to create 8,000 jobs.

An aerial view of the Queensferry One zone and its environs