An “urban quarter” has been given the green light at Falkirk Gateway with plans for retail units, offices, leisure space, a hotel, and food and drink outlets including a pub/restaurant.
Avison Young acted as sole selling agents on behalf of Falkirk Council, which has approved the Hargreaves Property Ventures Ltd as preferred developer. The price was not disclosed.
The mixed-use development will be on 27.25 acres that is already home to The Helix, The Kelpies, Falkirk Stadium and the new Forth Valley College due to open in September 2019.
Keith Aitken of Avison Young said: “Falkirk Gateway is a significant development opportunity for Falkirk and the wider Central Scotland region. It benefits from excellent transport links and proximity to the Helix & The Kelpies, Falkirk Stadium and the town centre.
“The proposals for the site will act as a further catalyst for economic growth and will prove to be a complimentary neighbour to the new Forth Valley College.”
Councillor Cecil Meiklejohn, leader of Falkirk Council said: “Our plans to completely redevelop this area are making great progress and with the appointment of Hargreaves Property Ventures, we are a significant step closer to creating new opportunities for the local economy and jobs.
“The creation of an ‘urban quarter’ at the Westfield/Middlefield site will transform the vacant area between Falkirk and Grangemouth and bring the 27.25 acre site into a location that will help promote economic growth.”
Hargreaves Property Ventures Ltd, who were represented by Biggart & Co, is a development partnership between Hargreaves Services plc and Fintry Estates Ltd.
Falkirk Gateway has been financed to date via a Tax Incremental Finance (TIF) scheme which has funded enabling works and infrastructure improvements across Falkirk District.