Sustainable city expansion creates a £100m mixed use opportunity

Our strategic position, at the very heart of Scotland’s road, rail and air transport networks, delivers a superb proposition for investment and business relocation, which also makes Perth itself the ideal location to connect with business and life.

Businesses here enjoy easy access to Scotland’s key population centres without having to bear the high land and property prices of major cities. Our ambition, set out in the Perth City Plan, is to offer unrivalled business, cultural, educational and leisure opportunities.

To achieve this, more than £140m of investment in transport infrastructure is planned, helping to unlock more than £500m of current investment opportunities, so that – by 2035 – Perth city will be recognised as one of Europe’s leading small cities.

Significant recent investment, in the provision of improved educational facilities and new housing, will support the city’s expansion; running alongside further major investment in the city’s cultural offering and digital connectivity.

Scottish Eco Innovation Business Park

Capital expenditure: £50m

GDV: > £100m

Peak borrowing: £20m

This exciting opportunity at Perth West offers investors the chance to be at the very heart of our journey, by developing a zoned development area covering 130 hectares with 1,600 units of mixed tenure housing, a distribution centre, business park for commercial space, industrial, hotel, leisure, district heat and power system; and an academic centre. This investment opportunity is included in the DIT Scottish portfolio which will launched at MIPIM on 15 March.

The Scottish Eco Innovation Business Park, centred around a distribution consolidation centre, will host technologies, systems and processes to decarbonise urban growth –including electrically enabled highways, mobility as a service, automation, Le Milo (Last mile logistics) and renewable district power generation.

This is a strategic opportunity for a debt or equity investor, with investment returns generated from infrastructure, finance revenue, property rental and heat/power streams; and revenue through design, build, finance and management of the facilities.

Proven potential

MIPIM has brought us significant investment in the past. Expresso Property are currently developing a landmark £30m mixed use development in Perth’s city centre, after an initial introduction at a previous MIPIM.

Designed by Holmes Miller, The Thimblerow project will establish a mix of restaurants and bars, a cinema, housing, and a multi-storey car park. It forms a cornerstone of the City’s wider plans to establish a new cultural quarter in the city centre and, once complete, is expected to attract more than 300,000 visitors every year, and generate 150 jobs.

Other recent investors in Perth include Porsche, Jaguar Land Rover and Bellway Homes PLC.

Learn more

Serge Merone, Investment Manager, Perth & Kinross Council, will be one of the panellists at the SCA ARUP Sustainability session on Thursday 15 March, reviewing how Scotland’s cities are successfully transitioning to a low carbon future.

To attend any SCA event, or arrange a meeting with the city representatives, please contact: Joanne.Sefton@scottishcities.org.uk

@investinperth

 

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