Drum Property Group takes equity and management role in New Ingliston Limited
A new structure is in place to progress a “transformational development” for West Edinburgh as Drum Property Group has taken an equity and management position in New Ingliston Limited, the development company led by Sir Bill Gammell.
New Ingliston Ltd currently owns more than 200 acres of prime development land to the west of Edinburgh, adjacent to Edinburgh Airport. Drum will now take on the management of both the company and future development activity on behalf of the board.
The 205-acre site - formerly marketed as ‘Edinburgh 205’ and part of the planned International Business Gateway - is widely regarded as one of the most strategically important economic development areas in Scotland, presenting the opportunity to open up the west of the capital.
As part of the company reorganisation, a new board has been appointed with Sir Bill Gammell serving as chairman. Previous board members Patrick Gammell, Sir Brian Ivory and Alistair Salvesen have been joined by new appointees Graeme Bone, group managing director of Drum Property Group and property industry veterans Alan Robertson and Eric Young. This follows the recent retirement of Roddie Paterson after 26 years as managing director of New Ingliston Ltd.
Welcoming the new management structure, Sir Bill Gammell, chairman of New Ingliston Ltd, said: “We are delighted to be working with the highly regarded Drum team who have a proven track record of expertise and delivery. On behalf of the Board, I would also like to record our thanks to Roddie Paterson and all his team at Highland Properties for their tremendous input over many years and for creating such a strong foundation for future growth.”
Graeme Bone, group managing director of Drum, added: “This is a once-in-a-generation opportunity for Drum to deliver a development site that has the potential to play a fundamental role in Scotland’s economic recovery and ongoing development for decades to come. To have the support of such an inspiring and experienced Board provides a unique platform to look at the site with a fresh perspective and energy as the country emerges from the challenges of lockdown.
“We have already started the process of productive engagement with local and national stakeholders in the private and public sectors, and we now look forward to building momentum and advancing our vision for what could be a transformational development for west Edinburgh.”