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for small, craft and artisan enterprises. Above this hub there will be high-quality apartments designed for professionals and couples. Our Enterprise, which has developed a pioneering ‘social legacy’ business model, will also build offices suited to a wide range of occupiers. Robertson, one of Scotland’s leading construction and infrastructure companies, is to invest £60m developing flats, premium office space and a hotel on site 6, which is adjacent to the V&A Museum of Design, Dundee.
Rail Station
Allan Watt, Dundee Waterfront Project Director stresses the importance of partnership: “The City Council owns the vast majority of land in the central waterfront, which allows the council to work closely with developers, investors and entrepreneurs. There are many more opportunities available for the private sector to shape the development of the Waterfront and we would urge interested parties to contact the City Development team directly to discuss their ideas.”
Wealth of investment opportunities available
A wide range of development and investment opportunities are available in Dundee Waterfront and businesses and entrepreneurs of all sizes are being encouraged to contact the development team with their ideas.
The development site stretches along 8km of prime River Tay waterfront, and currently features a diverse profile of occupiers, from industry and light manufacturing through to professional services firm, retailers and hotels. Last year a further 1 million sq.ft of development space was released and is available across 8 different sites. Three of those sites have now been reserved by Our Enterprise (Sites 2 and 5) and Robertson (Site 6). The different sites can be viewed at
www.dundeewaterfront.com/zones Uses for the remaining sites include professional services firms, financial services, public and government organisations, technology, bio-sciences, software, call centres, retail, hotels, bars, restaurants, cinema, leisure and recreation. Development Director Allan Watt says the choice of uses is only really restricted by imagination: “Dundee Waterfront is a blank canvas of development opportunity. With the V&A Museum of Design, Dundee we will have one of the UK’s leading museum assets that will attract significant numbers of visitors to the city. “This development alone offers major opportunities for small and medium sized businesses to invest in the Waterfront. At the other end of the market, large businesses, private equity and investment businesses have a rare opportunity to shape the development of the Waterfront
COMMERCIAL PROPERTY MONTHLY 2016
over the next few years. It is a hugely exciting time, and we would just say ‘don’t delay, give us a call!”
An innovative set of online design and planning guidelines for each individual site steers investors, developers and their advisers on how to approach building projects. The objective is to encourage sustainable, design-led development that reflects Dundee’s status as the UK’s first UNESCO City of Design. Mike Galloway, Executive Director of City Development with Dundee City Council said: “The guides will help investors gain an understanding of our approach to development, and how they can partner with us as Dundee Waterfront expands. Almost all of the sites within the Central Waterfront are owned by Dundee City Council, so we can work in partnership with investors and take a long-term holistic approach to development to get the best for the City.”
Interested developers, investors and entrepreneurs can contact the Allan Watt, Dundee Waterfront Project Director direct on
allan.watt@dundeecity.gov.uk or on 01382 433306.
Slessor Gardens 5 Investments worth £75m
Earlier this year there was a rush of new private sector investment announcements linked to Dundee Waterfront. First is the news that the leading UK development and regeneration company, Our Enterprise, is to invest £25m in site 2 and further investment in an additional 91 apartments as part of site 5 in the Central Waterfront. The company will create a design and innovation quarter designed to help retain graduates emerging from the city’s universities and colleges. Two city blocks will be built and will house ‘Design, make and sell’ units suitable
The development will see 67 flats built for the private rented sector, 50,000 sq.ft of Grade ‘A’ office space over four floors, and a new 120-bed hotel targeting the premium end of the visitor market. Commenting on these major private sector investments, Dundee City Council Executive Director of City Development Mike Galloway said: “These imaginative proposals match our desire to work with commercial partners that will deliver our vision for the Waterfront. It is very rewarding that Dundee Waterfront is clearly attracting investment from top quality businesses wanting to share in the UK’s 3rd largest waterfront regeneration project. We are open to joint ventures so would encourage more businesses to contact us with their concepts.” Flybe added to the good news with the introduction of a new Amsterdam flight operating six times a week, and marks the first non-charter international service out of Dundee Airport. Inglis Lyon, managing director of Dundee Airport operator HIAL, said: "The new route offers business and leisure travellers’ fast, convenient links to hundreds of destinations worldwide and, crucially, creates new opportunities for inward investment and inbound tourism at an exciting time for the city." Forth Ports gave a further boost by announcing a £10m investment and employment project that will position Dundee Port for the expansion in renewables and decommissioning work related to the North Sea oil and gas sector. Finally, the most recent investment will be welcomed by beer lovers everywhere after plans were submitted to build Dundee’s first craft brewery, and the city’s first brewery for 50 years. The new Hawkhill Brewery Company will build the brewery in Sugarhouse Wynd in a building owned by Park Investments Dundee Limited, which is currently under-going refurbishment. Plans also include a visitor centre and a brew pub. With more than 300,000 extra visitors expected to the city each year, they will be working flat out. Perhaps the best news of all is that across all of these new investments, and more in the pipeline, thousands of new jobs are being created in Dundee Waterfront, many of which will be suitable to the next generation of young talent studying and living in Dundee.
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