Scottish Cities Alliance launches new PRS prospectus at UK property trade show

PRS prospectusA partnership which aims to attract investment into Scotland’s seven cities has showcased its new Private Rented Sector Prospectus to UK property developers during the MIPIM UK property trade show in London.

The Scottish Cities Alliance said the prospectus highlights the market opportunity for the Private Rented Sector (PRS) in Scotland and the supporting role of the Alliance for the further development of build to rent homes across the seven cities.

It outlines emerging policy developments and the supportive framework in Scotland to encourage further PRS investment.

MIPIM UK is the largest gathering of the country’s most powerful property players which takes place in London this week.

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.

Through collaboration with property market providers, key agencies and stakeholders on accelerating delivery in Private Rented Sector / Build to Rent (BTR) housing, the Alliance aims to secure PRS/BTR Housing to enhance the mix of housing available in Scotland’s growing cities to underpin sustainable economic growth.

The Alliance is joined at MIPIM UK by Homes for Scotland who recently announced further funding from the Scottish Government for the Build to Rent sector through the work of Private Rented Sector champion Gerry More. Gerry’s role involves driving forward initiatives to increase the supply of new purposed-build and energy-efficient properties to rent.

The aim of the Private Rented Sector is to create a sustainable community through the provision of communal spaces, providing excellent customer service, ensuring that management of apartments are to the highest standards, and providing amenities to meet the needs of the modern renter.

Cabinet secretary for economy, jobs and fair work, Keith Brown, said: “This government is determined to boost the supply of housing across all tenures, to help create vibrant neighbourhoods and quality, warm and sustainable homes.

“The private rented sector has an important role to play in the expansion of our housing supply. I am committed to continue to make Scotland an attractive place for investors to operate in the long term and for tenants to have a secure and stable home to live.

“Scotland continues to lead the way in the UK in developing innovative financial models, such as the PRS Rental Income guarantee, which is attracting large-scale investment and accelerating the supply of new homes across the country.”

Chair of the Scottish Cities Alliance, Councillor Andrew Burns, said: “The Scottish Cities Alliance is delighted to be attending MIPIM London 2016 with our partners Homes for Scotland to launch our new Private Rented Sector prospectus.

“We are supporting the development of our increasing Build to Rent sector in Scotland through our proposition development and ongoing collaborative work to achieve delivery of investible Build to Rent housing projects across our cities and regions.

“Scotland is open for business and the Alliance will continue to support and promote the good work of our seven cities in order to attract investment. The key objective of the Alliance is to drive economic growth in Scotland’s seven cities and it is important that we are part of events such as MIPIM UK so we can reach out to investors.”

Allan Watt, Dundee Waterfront project director, said: “Dundee City Council owns the vast majority of land in the central waterfront, which allows us to work closely with developers, investors and entrepreneurs to create great opportunities for the UK’s private rented sector to capitalise on the expansion of Dundee Waterfront. We are very entrepreneurial in our approach, and would urge interested parties to contact the Dundee Waterfront Development team directly to discuss their ideas.”

The Alliance is also showcasing a number of infrastructure projects as part of a portfolio of £7.5 billion investment ready opportunities across Scotland, including:


  • Aberdeen City Centre: The masterplan is designed to revitalise public transport and pedestrian links in the city. The Station Gateway forms an important part of that plan and will improve public transport, cycling and pedestrian connectivity around the station.
  • E-park Aberdeen: A commercial mixed-use 60 hectare development. Located near the airport, the first phase commenced earlier this year, which will include an exhibition and conference centre, three hotels and an energy centre. Its due for completion in late 2018.
  • Dundee

    • New station and V&A Museum: The first V&A Museum of Design to be built in the UK outside of London is underway in Dundee and is due for completion in 2018. The city is also working closely with Network Rail to deliver a new station.
    • New Office, Resi and PRS scheme: Plans are progressing for a new grade two office space at two sites, one hotel and a PRS scheme.
    • Inverness

      • The Inverness and Highland City- Region Deal: A £1 billion investment, positioning the area as a region of digital opportunity. This will play a significant role in securing long term productivity and economic growth.
      • £100m Inverness Campus: A 14.5 hectare plot comprising of 17 development sections providing a range of investment opportunities across a number of sectors including: health, creative industries, energy and business services.
      • £13m refurbishment of (British Land) retail park: This scheme is expected to create, 180 new jobs for the local economy. It will include three new restaurants - Frankie and Bennie’s, Nandos and TGI Fridays and new retailers. The refurbishment will improve customer facilities, reconfigure the car park and create better pedestrian links.
      • Stirling

        • Grow on Space: The development of 10,000m2, comprising a new high quality office space particularly suitable for SME businesses at Forthside, Stirling’s 40-acre waterfront development.
        • Digital Hub: The city has plans to deliver 4,099m2 of dynamic, inspiring and collaborative space for businesses, students and academia in the historic municipal buildings in the heart of the city.
        • Edinburgh

          • International Business Gateway: IBG is a strategic development adjacent to Edinburgh Airport to the west of Scotland’s capital city The IBG extends to 105 hectares and current masterplans show some 232,000m2 of high quality business space, hotels capable of housing some 1,410 bedrooms and 2,350 residential units split between build for sale, build for rent (PRS) and affordable homes.
          • Edinburgh BioQuarter: A major biomedical, medical and science research campus adjacent to the Royal Infirmary of Edinburgh, (a 960 bed teaching hospital providing a full range of acute medical and surgical services),and University of Edinburgh Medical School (900 researchers and clinical teaching staff working across the full range of medical conditions). BioQuarter offers scope for significant further development of up to 230,000m2 of life sciences space plus 46,000m2 of ancillary space.
          • Glasgow

            • Glasgow Harbour: Situated on the banks of the River Clyde and the River Kelvin, Glasgow Harbour has a unique waterfront location just minutes from the city centre and is one of the UK’s largest waterfront regeneration projects. The 52 hectare (130 acre) integrated development, with an investment value of over £1.2 billion offers a wide range of commercial, office, residential and leisure development and occupational opportunities.
            • Collegelands: An extension of Glasgow’s Merchant City and a mere 500 metres from George Square, Collegelands sits on the corners of High Street and Duke Street. Located in a mixed use quarter close to the University of Strathclyde, the City of Glasgow College and the Glasgow Royal Infirmary. Phase 2 has already commenced with significant development opportunities exist for office, retail, restaurant and café space, hotel, residential and a student village.
            • Perth

              • PH20 Perth Food and Drink Park is an exciting initiative, which will strengthen the food and drink sector in Scotland through the provision of serviced development land and business support facilities. 25 hectares of serviced plots ranging from 1 to 10 hectares. Full planning permissions granted for Mixed Use development.
              • Broxden Development The development site at Broxden Business Park comprises 4.05 hectares of consented class 4 commercial land. It has an exceptional location, adjacent to the main junction of the A9, M9 and M90 motorway network, and six minutes by car from Perth City Centre. Ideally suited to a branded, limited service, mid-scale hotel, the site could readily accommodate between 60 and 120 bedrooms. The remainder of the site, will comprise mixed commercial and residential use.
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