Scottish Cities Alliance to pitch £7.5bn investment potential to worldwide market
The Scottish Cities Alliance is aiming to attract major external investment to Scotland’s seven cities, by showcasing its new investment Pitch Book to a worldwide commercial property market at MIPIM 2016 in March.
The Pitch Book will display over £7.5 billion worth of exciting investor-ready and pipeline opportunities across Scotland’s cities, which will deliver key projects, develop a highly skilled workforce and create thousands of jobs.
The Scottish Cities Alliance is a unique collaboration of Scotland’s seven cities (Aberdeen, Dundee, Edinburgh, Glasgow, Inverness, Perth and Stirling) and the Scottish Government, who are working together to create the conditions for attracting investment, stimulating economic activity and creating business growth across the cities.
The vast breath of opportunity outlined within the new investment Pitch Book highlights to the international property market that Scotland’s seven cities are modern places in which to invest and do business. Here are a few examples of the range of investment opportunities on offer:
- Aberdeen Central – a £1.5bn, 25 year regeneration programme for various sites across the City Centre, which will include housing, office, retail and public realm.
- Dundee Waterfront – a £1bn, 30-year redevelopment of a 240 hectare site, which includes the world-renowned V&A Museum of Design, due to open in 2018.
- Edinburgh BioQuarter – home to a medical school, hospital and life sciences incubator, the next phase of this £1bn project will help bring it into the world’s top 10 for medicine and biomedical science.
- Clyde Gateway – this 20-year, £2.7bn programme is Scotland’s biggest regeneration project, primed to build on the legacy of the successful Glasgow 2014 Commonwealth Games.
- Inverness Airport Business Park – a £350 million masterplanned project with planning approval in place. 36 acres of serviced land is currently available for occupation.
- PH20, Perth – a major mixed use hotel and leisure re-development that will propel Perth to the forefront of Scotland’s sport, conference and leisure opportunities by building a world class facility.
- Kildean Business Park, Stirling – a mixed use, retail, hotel and leisure development situated adjacent to the highly successful Castle Business Park and J10 of the M9 motorway.
Cabinet secretary for infrastructure, investment and cities, Keith Brown, said: “I fully support the call to attract investment into Scotland’s cities. This Scottish Cities Alliance £7.5bn Pitch Book highlights the range of investor-ready and pipeline opportunities in our cities and city regions. The scale and scope of opportunities on offer is truly impressive. I call on the investment community to get behind this prospectus to and help us deliver future-proofed infrastructure and connectivity across our cities and their regions.”
Chair of the Scottish Cities Alliance, Councillor Andrew Burns, said: “The key objective of the Alliance is to drive economic growth in Scotland’s seven cities. Part of our role involves promoting Scotland’s cities on the international stage as attractive, modern places to invest and do business. The recent Ernst & Young Attractiveness Survey 2015 named Scotland as the most attractive place to invest in the UK outside London. We can capitalise on this by showing potential investors that Scotland’s cities can work together to create attractive projects of scale.
“We are delighted to be launching our new Pitch Book at MIPIM, which is one of the largest and most important events on the international property investment calendar. Over 20,000 people, including thousands of investors from all over the world, attend MIPIM every year, so it is a fantastic opportunity to showcase our investor-ready projects to some of the most influential figures in the international property market.”
David Melhuish, director of the Scottish Property Federation, said: “We have long suggested that the key to attracting global capital to Scotland is to ensure that cities are visibly ‘open for business’, and that the opportunities for innovative partnerships with long term investment potential are visible to a wide audience.
“We welcome the idea of this pitch book as part of a series of measures to showcase the opportunities which are available in our cities and beyond. We would also like to see a real estate forum created that would bring together government and the real estate sector to act as a catalyst to drive investment.”