Waterfront land for four plots released by planners

PLA NNERS behind the £1 billion reshaping of Dundee’s Waterfront are preparing to discuss “detailed proposals” with would-be investors after formally releasing a million square feet of land for development.

Project coordinator A llan Watt yesterday said the city council would hold design talks with a string of developers over the coming months, following a surge of interest in regeneration plans which are expected to help create almost 5,000 jobs.

Officials said the four plots — including the gap site at Yeaman Shore, and three running alongside the Tay Road Bridge northbound off-ramps — have been made available for deals in response to “demand for prime development sites”, with some being unlocked ahead of schedule.

The step is the just the latest gambit designed to help attract a string of new retail, leisure, commercial and residential business to the area, with a further 500,000 sq ft to be released early in 2016.

MrWatt said the project team had already drawn developer interest — with a “chunk” of it coming from Scotland’s Central Belt.

He said the parties were now starting to discuss the scale and nature of their designs as they firm up their propositions.

“We have a number of developers who will be coming in to talk to us about quite detailed proposals,” Mr Watt added.

“We’re really keen to ensure that the first development – all the developments, but initially that first development – will set a benchmark for the quality of design. We’re really keen to make sure we are getting something with a high quality design.”

Investor sentiment has improved noticeably since the turn of the year, Mr Watt added — attributing the upturn to a recovering UK economy, theV&A ‘effect’, the ongoing roll-out of infrastructure and services and the emergence of the area’s new road layout.

The Waterfront project has also won a string of plaudits — including being voted ‘the best place in Scotland’ in a poll run by the Royal Town Planning Institute and the Scottish Government, while city development director Mike Galloway was handed an outstanding individual contribution gong at the Scottish Property A wards.

Consultant-led studies have already forecast up to 5,000 new jobs in the central Waterfront area, and the need for five additional hotels to serve what is expected to a billion-pound decade of tourism spending in the city.

Mr Galloway yesterday said: “The growth in leisure and tourism spend alone will generate very attractive opportunities for hospitality, visitor attraction and support sectors such as transport and catering,” he said.

“The release of this land will broaden the range of development choices and will we hope be well received by the business community.”

Dundee & A ngus Chamber of Commerce president Tim A llan welcomed the news that plots were now being actively marketed. He said his own Unicorn Property group would be looking at opportunities there, adding that the Waterfront area lacked residential options.

MrA llan said it was also vital to the longterm success of the Waterfront project that visitors to the V&A had a reason to explore further into the city centre.”