Residential Land Values in Scotland

For Scotland, land values and sales vary. Starting with Stirling, a joint venture company, Stirling Waterfront Ltd., has been formed in which 200 homes associated with a £35 million project would be constructed at the riverside end of a 16-hectare development. The final and legal approval for this new city quarter that would involve development in five phases has also been passed. As a part of one of the phases, the Council's new headquarters would be located in addition to leisure facilities, a conference centre, and a hotel. The residential homes will be built on two hectares to include beautiful landscaping and a walkway along the riverbank.

For Edinburgh, another joint venture company was formed called Shawfair Developments, Ltd. Working with Edinburgh and Lothian Councils, as well as Miller Homes, the goal is to actually, build a new town to the southeast of this region. The plan will be spread out over a 15-year period in which 4,800 flats and homes will be constructed. Other developments include a 2.2 million square feet dedicated to business space, leisure and sports facilities, a shopping centre, and all of the essential infrastructures to include rail line, town centre station, urban drainage, schools, roads, and so on. This new town will be built on 182 hectares.

In Fountainbridge, which is located in Edinburgh, plans are underway for the Scottish & Newcastle brewery site whereby an additional 6.5 hectares would be used for development. The plans here include regeneration of the Fountain South Side, including the construction of 500 new homes, coupled with leisure facilities, shopping centres, and offices. This particular development will work along the Union Canal broken out in several phases. For the first phase, 3 hectares, which was the former Mcwans' brewery site, would be used for new development. In addition, an application for a £20 million development on Fountain North Site has already been submitted. For this, 650 new homes would be built, along with significant office space.

Other things happening in Edinburgh include a new development in Leith Docks. Recently approved by the City Council, this development will also take 15 years to complete. Included in this plan is a 170-hectare site that will accommodate 18,000 new homes. To accomplish this, Leigh will be integrated into the old and new sections, thus extending it. The result will be a beautiful waterfront community, providing growth potential for this region by as much as 10%. In all, there will be nine new waterfront villages, heritage and cultural hubs, health, and education facilities, and green spaces. Also included in the plan is key-worker accommodations, waterfront villas, waterfront apartments, and family homes.

Now if you look at Fife, 4.6 hectares has recently been purchased by Thomas Mitchell Homes for £3 million. The development plans for this area would include 80 new executive homes that would be geared toward an affluent community. Another side at South Portland Street in Glasgow is being proposed. The development there would involve 41 flats, as well as underground parking. Then, the former Shields car showroom complex in Pollokshields has been acquired by Kier Homes, Ltd for £6.6 million. The plan for this site is to build 120, one or two bedroom flats spread out over 1.27 hectares. Another joint venture between Dandara Ltd and Kippax Ltd is for the construction of 770 apartments that would involve a £70 million project. However, this particular development has raised some controversy, featuring 14 to 22 storey residential towers on Clyde's north side.

In southwest Glasgow, the Bowfield development being guided by Bellway Homes is currently underway. The scheme for this project is regeneration, resulting in 222, two to four-bedroom homes, either terraced or detached. Then The Point project headed up by FM Homes in Shawlands will offer 64 flats that include both one and two bedroom apartments, along with small, three-bedroom duplexes. Located on a former garage site, this project would cover 0.828 hectares for £3.8 million.

Other development in Glasgow Scotland includes the Dowanside House, which is being built on the former Notre Dame convent. The Victorian style will be for residential development, something quite, unique and at a scale not previously seen in this region. Additionally, a million pound riverside project is being planned for Inverclyde. The goal is to redevelop Victoria Harbours and East India in Greenock. This 75-hectare site will accommodate a marina, leisure facilities, and 250 townhouses and flats.

For Machrinanish, which is located on the west coast of Kintyre, we have seen an interesting trend. In the past five years, over 100 buyers have now taken up holiday or permanent residence there, specifically at the Sound of Kintyre. Spearheaded by Anglo-House Scotland Ltd, we are now seeing the final phase of this area being started. In this phase, 22 detached and semi-detached, three, four, and five-bedroom new and upgraded homes will be completed. As a prime location, prices are estimated to start at £185,000.

Moving on to Paisley, The Weave development overseen by Carvill Groups will be within the town centre's hub. This particular development will feature 121 houses and flats, along with two-bedroom apartment flats, each starting at £99,995. In addition, terraced homes will be constructed for £115,000 and three-bedroom terraced homes for £132,000 and up. Even the market in Galloway and Dumfries is going strong. In fact, the demand for individual home plots far outweighs availability. The demand for larger sites also continues with residential development land climbing in value.

If you look at the market in Dundee, we see a buoyant market. To accommodate development, additional land has now been released. The good news for Dundee is that land of all types is in high demand. For Aberdeen, we are now seeing some changes in planning policy. For Greenfield sites that could be used for development, the Western Peripheral Route is a determining factor. Even so, the market is strong although not as active recently. You will also find Brownfield sites in Aberdeen with a number of regeneration projects being considered that would provide more affordable housing.

Finally, Lynch Homes in Ayr has recently announced a new development called Ewanfield. This development will involve 21 detached family homes, consisting of a choice of four to six bedrooms. These homes will also come in eight styles, all with quick and easy access to the A/M77. Being more executive level homes, prices will start around £379.000. Then, the Regency Gardens development is being operated by George Wimpey West. Located in Lanark, people will love the convenience of being within walking distance of the town centre. This development will include 69, four and five-bedroom, detached homes with prices beginning at £225,000.

- James M

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