North East development company Hargreaves Land has struck a new agreement paving the way for the creation of a £100m scheme to deliver new homes, offices, food outlets and leisure facilities in Falkirk.
Joint venture partners Hargreaves Land and Fintry Estates have reached agreement with Falkirk Council which will see them table a planning application this summer for the 27-acre residential and commercial scheme at Falkirk Gateway. The project will see the development of an area next to the new Forth Valley College and Falkirk Stadium, to include a mix of 100 new homes, a pub/restaurant and a 120-bedroom hotel.
More than 120,000 sqft of commercial floorspace for retail and leisure is also set to be created, as part of a package to support the ongoing regeneration and development of Falkirk over the coming few years. The project is expected to bring around 400 full and part-time jobs in the construction, retail, office, and hospitality and leisure sectors over the next 15 years.
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If the developers’ plans get the green light from Falkirk Council’s planning committee later this year, work is expected to start in the second half of 2024 and be completed in 2026.
David Anderson, group property director at Hargreaves Land, said: “We are delighted to secure an agreement with the council, which sees our ambitious plans set to move to the next phase. We are working with Fintry as JV partners to bring forward a fantastic scheme that will deliver new homes and growth for Falkirk, with new jobs and prosperity to follow for years to come.”
Duncan McEwan, director at Fintry Estates and the project lead, said: “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.”
Coun Cecil Meiklejohn, Leader of Falkirk Council said: “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.”
Development advice to the developer was provided by Alastair Biggart of Biggart & Co.
