Scotland
Falkirk Gateway - Finally Coming to Fruition…
CGi impression of South Site
I have with me Duncan McEwan of Fintry Estates, who jointly with Hargreaves Plc, are the preferred developers for Falkirk Council’s Falkirk Gateway project. The project will comprise over 100,000sq ft of mixed retail and leisure floor space, restaurants and drive-thru operations, together with a 120-bed hotel and up to 100 houses. Extending over two sites on the eastern side of Falkirk.
CPM: Duncan, what is the history of the site and your involvement in it? DMcE: The site was marketed by Falkirk Council in November 2017 and we were appointed preferred developers in 2018.
CPM: That seems like some time ago. Why has it taken so long to get to this stage?
DMcE: A number of factors. Obviously the Covid pandemic didn’t help, but it’s been primarily the need to maintain timing alongside the Council’s Road Improvement scheme as that gives access to the development sites. This has itself been delayed by a number of factors.
CPM: So, is it now a case of “full steam ahead”?
DMcE: Is it ever in commercial property development? I would say, guardedly, “Yes”. There has been a number of changes in legislation, both at a local and a national level, which is not making the process any easier. In addition, we have responded to a public consultation last year, as a result of which we are having to do some minor changes to the configuration and layout of our proposals, which enhances the offer and improves the viability. These changes have been discussed with the relevant officers so we can now to proceed with the next stage of the Planning Application.
CPM: Where are you with Planning Application?
the
Duncan McEwan and Graham Wilson of Fintry Estates
DMcE: We held our initial public consultation in November of last year and are now preparing the second one with a view to getting that submitted early in the New Year.
COMMERCIAL PROPERTY MONTHLY 2024
CPM: What was the initial response from the public? DMcE: Very much in favour. Generally, the Falkirk public see the benefits of what is being proposed, more jobs, the obvious economic benefits to the local economy by way of rates income to the Council, more housing and more choice. One of the repeated comments from the public was that they still have to travel to Stirling to visit some of the potential occupiers as they are not in Falkirk.
CPM: How has interest from occupiers and viability of the scheme held up over the intervening years since you were appointed? DMcE: In terms of interest, Alastair Biggart has done a great job at keeping the occupiers on side. It’s not been an easy job, or at least that what he tells me! But the core of the retail proposals are much the same as at the outset, some of the proposed occupiers have gone, but others remain interested and the mix will be much as we had envisaged. The one element where we have seen an increased level of interest is in the Drive-Thru Coffee and Restaurant market. There seems to be a number of existing and new operators looking for representation.
With regards to the viability, that is probably where the most risk is, commercial development has taken a hit throughout the country, with increased bureaucracy, increased build costs since the Ukrainian war for materials and a general inflationary effect on wages because of the cost of living crisis. Add into that a lack of investors and you end up getting squeezed from both sides.
CPM: So, how confident are you feeling about this? DMcE: Very, or we wouldn’t still be doing it! We have had recent discussions with the Council that are proving fruitful which will help with the costs of abnormal ground conditions and flooding and drainage issues, particularly on the North Site which helps with the viability.
CPM: What are the next steps? DMcE: As mentioned above we have a further public consultation event responding to the comments of the first one, then it will be to get the Application for Planning Permission in Principle so soon as possible and start firming up on the occupational interest early in the New Year. Also to reinvigorate the discussions with house builders and hotel operators for the South site.
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