Barratt outlines £75m capital and inward investment boost of proposed Monkton development
The developers behind a planning application for a proposed residential development for up 300 homes in Monkton and a site for a park and ride have outlined the major boost to the Ayrshire economy which could be provided should the plans be approved.
About this development:
- Authority:South Ayrshire
- Type:Residential, Other
- Team:Barratt (developer)
Barratt Homes West Scotland and Rochpion Properties (4) LLP lodged an application to South Ayrshire Council in November last year. The proposed development site at Monkton is identified in the Ayrshire Growth Deal Prestwick Masterplan as a residential expansion area.
Recognises the importance of the Ayrshire Growth Deal, which will be a key economic driver that will support the creation of new quality jobs and opportunities that will result in enhanced prosperity for the residents of the Ayrshire region, Barrat said it was keen to have a presence and to invest in the region.
The housebuilder identified the available Monkton site following identification of the site for residential development in the council’s Main Issues Report in 2017.
If approved, Barratt said the development will deliver £75 million of new capital and inward investment to deliver the residential site which will also contribute to the effective housing land supply in South Ayrshire from 2022 onwards.
Val Russell CEO, Ayrshire Chamber of Commerce, said: “As CEO of the Ayrshire Chamber of Commerce we recognise that in times of economic uncertainty a renewed focus on inward investment is needed to ensure the continued growth of our local economy. We welcome any activity such as house building that will support the growth of the local economy and create local jobs.”
The proposed development draws support from local plan policies primarily supporting the Ayrshire Growth Deal and South Ayrshire Council’s economic growth and wellbeing aspirations. If approved, the development at Monkton will facilitate and support the economic ambitions of South Ayrshire Council and the Ayrshire Growth Deal by providing high quality homes for the estimated 4,000 new jobs, which are to be created through the delivery of the projects identified in the Prestwick Masterplan.
Recognising South Ayrshire Council’s commitment to affordable housing, the development will also deliver much needed affordable housing for the area. Complying with local planning policy, 25% of the development will be for affordable housing which equates approximately to 75 new affordable homes.
To date, Barratt Homes West Scotland has received written expressions of interest from three leading housing associations which are Ayrshire Housing, Irvine Housing Association and West of Scotland Housing Association who have a keen interest in taking delivery of the affordable housing element of the proposed development, which further reinforces Barratt Homes commitment to delivering on-site affordable housing delivery for South Ayrshire Council.
Barratt Homes West Scotland submitted a robust Socio-Economic Impact Assessment to support the planning application which considered the effect of the proposed development on housing demand, employment generation and economic impact and was developed in line with Scottish Government national guidance on `Net Economic Benefit and Planning` which concluded that:
- 1,500 new homes will be required to support the newly created jobs.
- It is estimated that the proposed development will generate additional council tax revenue of £927,000 per annum for South Ayrshire Council.
- 60% of all jobs to be created through the Ayrshire Growth Deal will be related to the Prestwick Masterplan projects.
- Around 864 residents, of which 648 residents will be new to South Ayrshire, a majority being of working age which is an important current need for South Ayrshire.
- It is also estimated £6.7m per annum in total household expenditure, with around £3.3m of this accounted for by new consumer retail spending in South Ayrshire.
The planning application will be decided by South Ayrshire Council on November 10.
David Scott, managing director, Barratt Homes West Scotland, said: “We are excited about our proposed development at Monkton, South Ayrshire which we believe will not only deliver good quality housing in an attractive location, but if approved will significantly contribute to the local and wider Ayrshire economy.
“To date, we have undertaken an intensive local community engagement having held a public consultation in June last year and met with various political stakeholders and in light of the Ayrshire Growth Deal, the consensus amongst local stakeholders is that good quality affordable housing is a key priority for South Ayrshire.
“The Ayrshire Growth Deal is worth over £250m to the Ayrshire economy with the potential to unblock private investment of £300m which will potentially create around 7,000 new jobs across a wide range of sectors which will put further pressure on housing supply in the local and wider area and our proposed development will support South Ayrshire Council in its ambition to improve its housing supply provision and ensure that employees can secure a home close to their place of work.”