SCOTTISH CITIES ALLIANCE INVESTMENT PROSPECTUS
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INVESTMENT PROSPECTUS
SCOTTISH CITIES ALLIANCE
Aberdeen Dundee Edinburgh Glasgow Inverness Perth Stirling
Investment Prospectus SCOTTISH CITIES ALLIANCE VisitScotland/Kenny Lam
CONTENTS
Stirling
FOREWORD02-03
SCOTLAND’S SECTORAL OPPORTUNITIES 04-05
Perth
ABERDEEN06-15
DUNDEE16-27
EDINBURGH28-37
Inverness
GLASGOW38-45
INVERNESS46-53
PERTH54-59
Glasgow
STIRLING60-67
Edinburgh
Dundee
Aberdeen
01
FOREWORD
Welcome to the Scottish Cities
Alliance Investment Prospectus, which
showcases a range of robust, investor-
ready propositions and pipeline
projects spanning a range of sectors.
Councillor John Alexander,
Chair of the Scottish Cities Alliance
Scotland’s cities and the investors in the development SKY as well as start-ups such as
FOREWORD
Scottish Government form opportunities offered by Nucleus Financial, FreeAgent
the Alliance, a one-stop shop Scotland’s cities, it will remain and Money Dashboard
to offer investors a joined-up a desirable destination for already taking advantage of
approach to create projects investment. the many benefits of locating
of scale across the broad in this data-driven economy.
business spectrum of high With more than £5 billion
value propositions. committed so far to Smart City technology is
supporting economic transforming Scotland’s
There are many reasons to development in Scotland cities, enabling them to
invest in Scotland’s sustainable through City Region and become more internationally
and smart cities, from their Growth Deals, our seven competitive and boost
excellent connectivity, to their cities are modern thriving economic growth. To seize
attractively low tax rates, a destinations each with their the opportunities offered
high quality of life, a highly own distinct personality and by new technologies,
skilled workforce and last, but sectoral strengths – Aberdeen, Scotland’s cities have worked
certainly not least, a proud Edinburgh, Glasgow, Inverness, collaboratively to create the
history of innovation with Scots Perth, Stirling and my own city, ground-breaking Smart Cities
inventing everything from Dundee, which is undergoing Scotland programme which
television to Skyscanner. It’s a £1billion transformation on its is helping services across
on this culture of innovation Waterfront, with the stunning the cities become more
that Scottish cities are building V&A Museum of Design at its efficient and greener, which
Investment Prospectus
their aspiration for inclusive heart, highlights the diverse provides a strong foundation
economic growth. Scotland range of sectoral strengths to attract and grow new hi-
is the most attractive region and scales for investment. tech businesses that will drive
for investing in the UK after future sustainable economic
London according to E&Y’s Scotland has more than 5,100 success.
Attractiveness Survey, and international companies
with ongoing interest from a with giants in tech such as
wide range of international Skyscanner, FanDuel, Amazon,
02
Stirling
Perth
Inverness
Glasgow
Edinburgh
We also recognise the role trains, energy storage and the most sustainable and
that hydrogen can play the decarbonising of heat desirable places to live, work
in placing Scotland at the and the eradication of fuel and invest in the world.
forefront internationally poverty.
within the renewables Scotland’s seven thriving cities
Dundee
sector. Building on the many The “Smart” ambitions of offer world-class investor-
achievements to-date, Scotland’s cities will ensure ready opportunities. We invite
including the deployment that they become some of you to join us on this exciting
of refuelling infrastructure, journey.
hydrogen fuel cell electric
buses and vehicles,
Aberdeen
working collaboratively, the With more than £5 billion committed so far to
Alliance will ramp up these supporting economic development in Scotland
opportunities across our through City Region and Growth Deals, our seven
cities and regions focussing cities are modern thriving destinations each with
on heavy fleet vehicles their own distinct personality and sectoral strengths.
such as ferries, trucks and
03
SECTORAL OPPORTUNITIES
IN SCOTLAND’S CITIES
Aerospace and Space Food & drink
Scotland has built an internationally-recognised From world-renowned whiskies and award
space industry with 80 aerospace companies winning meat and seafood, to small-batch
such as Clyde Space. With year on year growth gins, craft beers, and innovative baked goods,
projected above 6%, Scotland has the ambition Scotland is the home of quality and flavour.
to grow its role in space from a £2billion industry • the drinks sector at £2.1 billion (16.8%
today to a £4 billion one by 2030. The sector of total manufacturing GVA); and
employs more than 7600 highly-skilled people • Food products at £1.6 billion (12.9%).
and continues to grow with the first spaceport Working hand-in-hand with the Scottish
in Europe to be built in Sutherland offering Government; and a wide variety of industry
a dedicated vertical rocket launch site. bodies and associations carries that
SECTOR NARRATIVE
message of quality to the wider world.
Creative Industries
Scotland’s creative industries employ nearly Industrial and manufacturing
80,000 people, adding £3.7 billion to the Scottish Demand in the industrial property market has
economy each year and with the expansion been strengthening since 2012. In 2016, cash
of training facilities, there is a huge pool of terms GVA in the manufacturing sector amounted
skilled talent and new graduates joining the to £12.7 billion, up 5% on the previous year.
industry. The digital media sector is at the Rents continue to rise and the development
forefront of innovation in applications, music, market is responding with a number of
TV, publishing and games, and we have centres active projects. Units below 929sq.m. are
of excellence springing up around the country. in particularly strong demand and larger
Scotland’s landscape is featured in international units (4,645 sq.m +) are becoming more
blockbusters such as Skyfall and World War active with lettings progressing on a good
Z and home to global phenomenon game proportion of what remains of the limited larger
creators like Rockstar North and Axis Animation. industrial stock available. (Source: Ryden)
Commercial/office Life sciences and biotech
Scotland is home to some of the largest Over 600 life sciences organisations employ more
European companies such as Concentrix, than 30,000 people, making Scotland one of the
Cigna, Ceridian, Teleperformance and largest life sciences clusters in Europe. Scotland
Sykes. All were drawn here by the right mix is home to a thriving biocluster, providing the
of talent, quality infrastructure and support. ideal environment for innovation and company
With over 215,000 people working in financial growth with key sites including Edinburgh
Investment Prospectus
and business services, supplemented by BioQuarter and Inverness Campus. There are
over 97,000 graduates a year, Scotland offers also innovation centres covering: stratified
high quality, flexible staff with skills covering medicine, sensors, digital health, industrial
a range of front and back office activities. biotechnology and aquaculture. Scotland’s
unified healthcare provider, the NHS, works
closely with industry and academia, supported
by the dedicated cross-party organisation,
LISAB. The NHS provides co-ordinated access
to clinical investigators and patients through
single point of contact for industry, accessible
clinical research support infrastructures, and
streamlined and timely clinical trial approvals.
04
Renewable energy Tourism and hospitality
Scotland’s extensive renewable energy Tourism is an important component of the
resources offer huge opportunities: investing Scottish economy supporting business activity
Stirling
in Scotland means access to potential capital and employment across Scotland. There are
contracts worth tens of billions and huge over 14,000 tourism and hospitality businesses.
export revenue. With renewable energy sites The combined impacts of a Sterling currency
close to Enterprise Areas and deepwater ports, value proposition, an anticipated increase in
manufacturing bases are ideally located to international tourist arrivals to the UK, and the
serve the Scottish, UK, European and global improvement in sales distribution channels online
markets. Scotland’s energy experience is has undoubtedly helped extend the appeal of
Perth
globally recognised with decades of experience the Scottish commercial accommodation supply.
in the oil and gas industry. By investing in (Source: VisitScotland)
Scotland’s renewable energy industry there’s
access to highly qualified staff and a wide
range of proven suppliers with the ability
Inverness
to diversify into the renewables market. Urban Residential
Scotland’s residential market is at its strongest
condition since 2008. With a total of 101,421
residential transactions during the year ending
Retail & leisure June 2017, the bulk of activity focuses on
Total sales in Scotland increased by 0.8% in March properties up to £400,000. This market has been
2018, in comparison to the previous year. Food assisted by low mortgage and taxation rates,
Glasgow
retailers in particular have had healthy growth along with Government initiatives such as Help
with demand for expansion of chains such as to Buy. The bracket between £400,000 and
Starbucks, Tim Hortons and Pret a Manger both £750,000 outperformed the wider market,
for standard shops and drive-through. High recording an 8% annual growth in transactions.
Streets and shopping centres continue to seek (Source: Savills Scotland Residential
alternative, non-retail occupiers to fill vacant Property Market 2017)
Edinburgh
units. Leisure, health and fitness, cinema and
bar/restaurant uses are becoming widespread
targets across many former shopping locations.
(Source: Ryden)
Dundee
CONTACT
For information on opportunities
in the cities please contact:
Amy Groden
Scottish Cities Alliance
Aberdeen
E: amy.groden@scottishcities.org.uk
For further information on
Scotland’s sectors contact:
Scottish Development International
T: +44 (0) 300 013 2734
05
ABERDEEN KEY MESSAGES
Aberdeen is an internationally recognised business centre with
globally competitive industries. It has particular strengths in energy,
food and drink, tourism and life sciences sectors. The region is home
to two leading universities and internationally significant research
centres such as the National Subsea Research Institute, Oil and
Gas Technology Centre, Decommissioning Centre of Excellence,
The Rowett Institute, The Marine Lab and the James Hutton Institute
ABERDEEN KEY MESSAGES
along with world class renewables deployment including the world’s
first floating wind farm, European Offshore Wind Deployment Centre,
and a growing Hydrogen transport economy, with the largest and
most diverse hydrogen fleet in Europe. Foresterhill, Aberdeen’s
Health Campus of over 123 acres also houses Europe’s single largest
healthcare and clinical complex.
Aberdeen is one of the world’s top five energy cities, leading the
way in the global energy transition, and has been ranked as one of
the UK’s most competitive and innovative cities. In 2018 Aberdeen
was ranked 6th among the UK’s 63 largest cities in terms of the
number of patents per 1,000 population. A quarter of Scotland’s
top 100 companies are based in Aberdeen and GVA sits at £18bn,
13% of Scotland’s total.
Co-Leader of Aberdeen City Council – Councillor Jenny Laing
“Aberdeen City Council is driving unprecedented transformation
Investment Prospectus
in our city. We are in the midst of delivering an ambitious
£1billion capital programme which will improve opportunities for
individuals and businesses in Aberdeen, whilst providing a solid
foundation for the region as a whole. Our inward investment
hub, Invest Aberdeen, works in partnership with key stakeholders
to further grow investment into the city and wider region and
create competitive growth opportunities in our priority sectors.
Innovation and diversification are at the heart of Aberdeen City
Council’s plans. We are already established on the world stage
but must work hard to build on that position – and the evidence
of that commitment to progress can be seen throughout the city.”
06
Quick Size
(Metro)
Population
(Metro)
Website
facts 6,499 km2 490,600 www.investaberdeen.co.uk
ABERDEEN
07
OPPORTUNITY
CONTACT:
Richard Sweetnam
Chief Officer – City Growth
QUEEN STREET, ABERDEEN T: +44 (0) 1224 522662
E: rsweetnam@aberdeencity.gov.uk
@Invest_Aberdeen
OVERVIEW
A multi-phase scheme with opportunity for
flexible investment, including equity or debt
finance, plus joint ventures for some or all
phases. Phases 1-3, with a GDV of £26.5
million, present opportunities for hotel,
apartments, retail and leisure.
PROJECT data on office occupancy This is a multi-phase
demonstrates a doubling of development in a prime
QUEEN STREET
DESCRIPTION take-up in 2017 to over 37,000 location. The opportunity could
Queen Street occupies an area sqm. Oxford Economics has take various flexible forms (i.e.
of Aberdeen that sits at predicted that Aberdeen is equity or debt finance) and
the heart of the historic city, set to grow. there are opportunities for joint
just above the port, facing onto ventures for some or all phases.
the city’s main market and at The vision for Queen Street is the
the fulcrum of the route running transformation of the area into The project has a Gross
north to Old Aberdeen. The area a new mixed-use urban quarter. Development Value of between
has nurtured the establishment Cafes and shops spill out onto £100million - £150million.
and growth of some of the great pedestrian friendly streets and Expected completion of
civic institutions which underpin public spaces. Apartments all phases by 2025-6.
the city. above provide a desirable
residential address. Together For development investment
The Quarter contains Marischal with Marischal College, the - £18M phase 1, £60M phase 2
College, the second largest Lemon Tree and the Arts Centre and £150+ overall total.
granite building in the world, the proposed mix of uses forms
the City Chambers and many a vibrant urban quarter that Phases 1-3 are scheduled
other Aberdeen civic, cultural is active through the day and for 2020-21 start and present
and architectural jewels, as well into the evening. It becomes a opportunities for hotel, 350
as – crucially – some 1960s and pleasant spot for city workers to apartments and 9,000 square
70s civic interventions making take time out during the day, metres of leisure and retail. GDV
poor use of this key location. for culture vultures to extend is approximately £150million
their visit to the Lemon Tree or with initial construction costs
Adjacent to Queen Street is Arts Centre and for residents to estimated at £50million.
Investment Prospectus
the new (£107million) Marischal enjoy convenient access to the
Square development city centre’s employment and
(www.marischalsquare.co.uk)
comprising a mix of leisure
leisure opportunities. PROMOTER AND
and office uses forming a A £30million investment is PARTNERSHIPS
busy hub within the City being made by Aberdeen City Queen Street is being promoted
Centre. Aberdeen’s main street, Council in land investment by Aberdeen City Council in
Union Street, is within touching to bring control to the local partnership with a number
distance of the site as are two authority. of public sector stakeholders
of Aberdeen’s busiest shopping including the Scottish
destinations which are within Government.
a 2 minute walk. Recent
08KEY
SECTORS
Urban Tourism Commercial/ Retail
residential & hospitality office & leisure
QUICK FACTS
Project Promoter Aberdeen City Council
£100-£150 million, 350 apartments,
Scale
9,000m2 leisure / retail
Project Type Mixed use, residential led, could include hotel
Location Aberdeen city centre, Scotland
ABERDEEN
Investment Type Equity investor, funder, development partner
Programme Phase 1-3 start 2020 - complete 2025
Included in Local Development Plan and key
Planning Status
project in City Centre Masterplan
Website aberdeencitycentremasterplan.com
The scheme will deliver a new urban
quarter alongside existing cultural
facilities which will result in a vibrant
quarter that is active throughout the
day and into the evening.
Aberdeen Queen Street
09OPPORTUNITY
CONTACT:
Marine Enquities
E: info@aberdeen-harbour.co.uk
ABERDEEN HARBOUR SOUTH Invest Aberdeen
E: enquiries@investaberdeen.co.uk
T: +44 (0) 1224 522940 / @Invest_Aberdeen
OVERVIEW
Aberdeen Harbour’s South Harbour
development will transform the marine support
capacity of Aberdeen. The £350 million
project will enable significant upscaling
and growth opportunities for customers and
new markets. South Harbour is the largest
marine infrastructure project currently
underway in the UK and is a development
of national significance. Once complete,
the combined Aberdeen Harbour will be
Scotland’s largest port, in terms of berthage.
ABERDEEN HARBOUR SOUTH
Aberdeen Harbour was accommodation of upscaled opportunity sites are located
established in 1136 and is decommissioning, renewables adjacent to major existing
Britain’s oldest existing business. and cruise industry activity. infrastructure, including the
Today it is the premier marine Inverness-Edinburgh trainline
support centre for the subsea and the southern junction of the
engineering sector and offshore Aberdeen Western Peripheral
energy industry, and is the CURRENT STATUS Route. The site is also close
main commercial port serving This site is allocated in the to the proposed Aberdeen
the North East of Scotland. Aberdeen Local Development Energy from Waste site which
Plan 2017 as OP62 Aberdeen will produce both electricity
Recent decades have seen Harbour, for Harbour use. and heat energy, a proposed
more than £200 million in Construction began in May solar farm, a hydrogen fuelling
investment in existing facilities 2017 and the project is planned station and the existing
Investment Prospectus
and the Trust Port’s latest for phased completion in 2021. business and industrial parks
development is a single have also been identified as
investment of £350 million. The new facilities will allow an Energy transition Zone to
the port to grow its energy support clean energy such as
South Harbour will revolutionise activities whilst attracting offshore wind, hydrogen and
the port’s capacity and will new, upscaled activities from carbon capture and storage.
allow vessels of up to 300 the widest range of sectors.
metres plus to berth alongside.
Around South Harbour are
INVESTMENT
The extensive quay lengths,
existing business and industrial Aberdeen Harbour Board has
expansive laydown area and
parks zoned B1 Business and invested approximately £330
deep water channel will also
Industrial in the Aberdeen Local million in the development
transform the functionality
Development Plan 2017. These and has also attracted support
of the port, allowing the
10KEY
SECTORS
Industrial &
manufacturing
ABERDEEN
Aberdeen South Harbour, opening 2020
from Aberdeen City Council, Aberdeen Western Peripheral development opportunities
Aberdeenshire Council Route via the Charleston during the construction and
and Scottish Enterprise. Interchange on the A90. implementation phases.
The Aberdeen City Region Investor Support
Deal is delivering new Invest Aberdeen will work with
transport infrastructure to Aberdeen Harbour Board,
improve connectivity from the industry, and stakeholders to
provide information on landside
QUICK FACTS
Project Promoter Aberdeen Harbour Board & Aberdeen City Council
Scale Largest harbour by berthage in UK
Investment £350 million
Additional 7,000 indirect equivalent jobs
Jobs by 2035, injecting an additional £0.9 billion
GVA into the national economy.
Business Onshore Business and Industrial Opportunities
11OPPORTUNITY
CONTACT:
Invest Aberdeen
E: enquiries@investaberdeen.co.uk
THE EVENT COMPLEX ABERDEEN T: +44 (0)1224 522940/@Invest_Aberdeen
(TECA)
OVERVIEW
Opened in August 2019, The Event Complex
Aberdeen (TECA) is located four miles north
west of Aberdeen city centre adjacent to
Aberdeen International Airport.
The development is set within CURRENT STATUS A further 31,000m2 of
150 acres of landscaped subterranean space is available
TECA has been developed
park land with direct access for major conferences and
by Aberdeen City Council
onto the A96 and the new exhibitions along with VIP boxes,
along with partner HBD and is
Aberdeen Western Peripheral full dining and banqueting
a key element of £560million
Route (AWPR) junction at facilities and over 2,000
investment in infrastructure
Aberdeen International onsite car parking spaces.
by Aberdeen City Council to
THE EVENT COMPLEX ABERDEEN (TECA)
Airport giving access to the
grow and bolster the local,
north and south of the city. TECA provides further
Scottish and UK economies.
development opportunities
TECA is anchored by across the site with planning
The first phase of TECA
Aberdeen’s new Exhibition permission in principle in
commenced in 2016 with the
and Conference Centre and place for over 60,000m2
building of Aberdeen’s new
two new hotels providing 350 of flexible grade A office
exhibition and conference
bedrooms – Hilton Aberdeen accommodation split into a
centre, two hotels and
TECA and Scotland’s first series of distinctive zones within
onsite energy centre with
Aloft by Marriot. There is the wider development within
completion in 2019.
also permission for a third easy reach of the strategic
hotel within the complex. road network, railway station
The new facility will anchor
at Dyce and Aberdeen
existing international events
The site provides Aberdeen with International Airport.
and compete nationally
state-of-the-art exhibition and
and internationally for new
conference facilities capable
events, as well as broadening
of underwriting the city as
the appeal of the north- INVESTMENT
Europe’s energy capital and
represents an initial Phase 1
east to a global audience. SOUGHT
It includes a 9,000m2 arena
investment of over £300million. The Council and its
Investment Prospectus
capable of accommodating
development partner HBD
12,500 seated with a further
The site is complemented are seeking to actively
6,000m2 of additional
by 60,000m2 of new Grade engage with interested parties
flexible exhibition space.
A business space powered seeking to invest, occupy and
by an energy centre purchase the commercial/
located within the site. business space within the
wider TECA development.
12KEY
SECTORS
Commercial/ Tourism Retail
office & hospitality & leisure
ABERDEEN
The Event Complex Aberdeen Credit: HBD
QUICK FACTS
Adjacent to new 12,500 seat Arena and exhibition and conference space
Phase 1 development of over £300 million
4.5 million visitors, £113 million of visitor spend and £63 million net GVA
to the Scottish economy over 10 years
Planning permission in Principle for over 60,000m2 of office space
Close proximity to Airport, railway station and strategic road network
13OPPORTUNITY
CONTACT:
Aberdeen City Council Estates Team
E: estates@aberdeencity.gov.uk
BRIDGE OF DON T: +44 (0) 1224 523064
Invest Aberdeen
E: enquiries@investaberdeen.co.uk
T: +44 (0) 1224 522940 / @Invest_Aberdeen
OVERVIEW
Situated to the north of Aberdeen City Centre
and with direct routes into the city centre and
Aberdeen International Airport via the new
£750million Aberdeen Western Peripheral
Route (AWPR) the site which previously
housed the Aberdeen Exhibition and
Conference Centre (AECC) offers an attractive
mixed-use development opportunity. The site
covers 18.4ha (45.5acres) five miles north
of Aberdeen City Centre and sits within an
attractive coastal position between Royal
Aberdeen Golf Club, Aberdeen Energy Park
and a residential suburb of Aberdeen.
Aberdeen City Council have environment to re-energise Aberdeen City Council will
BRIDGE OF DON
undertaken to relocate this part of the City following clear the site of existing
the AECC to a new site at the move of the conferencing buildings and look to install
Bucksburn, close to Aberdeen and exhibition facilities. appropriate infrastructure
International Airport, where to allow the creation of
a contemporary new events The site will be cleared and development plots
centre will be provided along serviced prior to disposal of the
with ancillary, supporting packages for purchase or lease.
uses. Once the new facility
is operational, the existing
INVESTOR SUPPORT
Aberdeen City Council, working
site will become redundant
and alternative uses must
CURRENT STATUS with HBD will proactively work
Site clearance and site to bring the site to the market.
Investment Prospectus
be found for the site.
servicing works will begin in Parties interested in purchasing
The site previously housed 2020 with sites then available or leasing any parts of the site
Aberdeen’s exhibition and for disposal. The site or wishing to discuss potential
conferencing centre, which is allocated in the Aberdeen uses should contact Aberdeen
moved to a new facility in Local Development Plan (LDP) City Council.
2019. The site is being brought 2017 as an opportunity site
forward by Aberdeen City for mixed-use development,
Council and HBD, the Council’s including both commercial,
development partner with a leisure and residential
vision to deliver a redeveloped, opportunities. HBD and
high quality mixed use urban
14ABERDEEN
Bridge of Don development opportunity masterplan
QUICK FACTS
A major mixed-use development site of 18.4 hectares
999 space park and ride facility within the site boundary
Site to be cleared, development plots created and serviced
Well served by existing public transport connections
to the City Centre and access to AWPR
Allocated as a mixed use opportunity site in Aberdeen Local Development Plan 2017
Planning Permission in Principle (Ref. 150824) for 498 residential units,
commercial, business uses, recycling centre and park & ride facilities.
15DUNDEE KEY MESSAGES
Dundee has a stunning location on the banks of the River Tay,
situated on the east coast of Scotland. It is a city with much
to discover with its vibrant arts scene, 5 star visitor attractions,
independent cafes and stylish restaurants, an abundance of green
space, easy access to premier ski locations, 60 golf courses within
a 30 minute drive and Broughty Ferry Beach, which has secured a
Scotland’s Beach Award for excellent water quality. Dundee is the
DUNDEE KEY MESSAGES
first city in the UK to receive the UNESCO City of Design designation.
Dundee is a young city, 51% of the population is under 40. With a
student to population ratio of 1:5, the highest in Scotland, Dundee’s
talent pool is skilled, multicultural and highly educated. The city
has two world-class universities, an award winning college and is
renowned for being a centre of academic and research excellence.
Leader of Dundee City Council – Councillor John Alexander
“With a hugely ambitious £1billion waterfront redevelopment
taking shape, anchored by the first V&A Museum outside London,
Dundee is a city that is rightly attracting attention from both
international investors and the world’s media, from The Los Angeles
Times to Vogue.
Dundee is embracing a huge transformation and has been firmly
propelled to a city of global renown. Perceptions are changing
and with this comes significant investment across a range of
Investment Prospectus
sectors including life sciences, creative industries and energy.
This wave of investment is helping to drive the competitiveness,
diversity, strength and growth of the local and regional economy.
The recent announcement of Michelin Scotland Innovation Parc
demonstrates the city’s determination to deliver a vibrant long-
term future for the Baldovie site, built around sustainable mobility
and low carbon energy, and that vision is becoming a reality.
With three further and higher education institutes, the city boasts a
highly educated workforce and great quality of life and following
the opening of the V&A Dundee the city is set to continue on its
upward trajectory.”
16Quick Size
(Metro)
Population
(Metro)
Website
facts 60 km2 237,000 www.investindundee.co.uk
DUNDEE
17OPPORTUNITY
CONTACT:
info@dundeewaterfront.com
DUNDEE WATERFRONT
OVERVIEW
Dundee Waterfront is one of the largest
active regeneration projects in the UK,
covering 5 key zones along an 8km stretch
of Dundee’s waterfront. The primary
investment opportunities are within the
Central Waterfront which includes a number
DUNDEE WATERFRONT
of sites which are wholly owned by Dundee
City Council and are “shovel ready”.
Development at Dundee Central Waterfront: will create approximately
Waterfront is based on the The Central Waterfront provides 500-850 flats and 19,880m2
solid foundations of a visionary a range of opportunities of active ground floor space
masterplan. Significant public which are varied and include: for boutique retail, cafes,
and private investment has mixed use, infrastructure, bars and restaurants.
already been made to develop commercial, residential, retail,
the necessary infrastructure: hospitality and leisure. Seabraes: Opportunities
serviced sites for development; are also available at
civic space at Slessor Gardens; A total of 155,842m2 of Seabraes (site wholly owned
a new railway station and V&A floorspace will be created by Scottish Enterprise) for
Dundee. Development to date across 9 development sites both creative industries and
adds to the attractiveness of within the central waterfront. residential developments.
the city and its waterfront as This will create 89,287m2 of
an investment opportunity. commercial space, including City Quay/Dundee Marina:
4000m2 for hotels, 42,155m2 Independent studies identify
of residential space, which that a modern marina in
Dundee of circa 300 to 400
berths could provide for a
sustainable and viable marina
FIVE STRATEGIC DEVELOPMENT ZONES business. This in turn would meet
current and future boating
Dundee Waterfront offers a variety of investment opportunities
Investment Prospectus
demands in a niche area of
across 5 development zones:
the East Coast of Scotland.
• Riverside: Transport, Leisure and Residential Accordingly, Dundee City
Council is committed to
• Seabraes: Creative Industries and Residential providing key infrastructure
projects for the marina.
• Central Waterfront: Commercial, Residential, Retail,
Leisure and Hospitality
• City Quay: Commercial, Residential and Leisure
• Dundee Port: Industrial/Renewables and Decommissioning
18KEY
SECTORS
Urban Commercial/ Retail Industrial &
residential office & leisure manufacturing
DUNDEE
CURRENT STATUS QUICK FACTS
Development of the Central Waterfront is
phased, with a number of plots available for
Third most active regeneration
immediate development, subject to planning project in the UK
permission. The Central Waterfront has
welcomed V&A Dundee, a new railway station,
Slessor Gardens and The Earl Grey Building. A Total Site area: 240 hectares
proposal has been submitted and approved over 8km of waterfront
for Site 2 to see the development of Studio
Dundee co-working space, 117 build to rent Circa £800m invested to date,
apartments and urban offices. This project has with total investment of
attracted £3M funding from the Tay Cities Deal. over £1B sought
A proposal of application notice has been
submitted for the future development of Site 10, Project creating 7,000 jobs
for a mixed-use development consisting of office
space, active ground floor uses and leisure.
Detailed Information,
including development briefs
SUPPORT FOR INVESTORS for each site is available at:
A pro-active approach to developer, dundeewaterfront.com
investor and end user stakeholders is
a key feature of this opportunity.
19OPPORTUNITY
CONTACT:
info@energydundee.com
ENERGY DUNDEE
OVERVIEW
Dundee is focusing its attention on the
future of energy in Scotland, be that the
DUNDEE ENERGY PARKS AND DUNDEE PORT
development of the oil and gas sector,
offshore renewables, decommissioning or
indeed new energy sources such as hydrogen.
CURRENT STATUS Forth & Tay Offshore Alliance Aims of the cluster:
The Energy sector is an is a recently established • Establish the cluster
important part of the future public and private partnership proposition
for Dundee and the broader aimed at attracting and • Supply chain development
Tayside economy. The sector retaining investment in offshore • Event programme
encompasses: offshore wind, oil related manufacturing and • Skills development
& gas, decommissioning (driven servicing to the Forth & Tay • Develop and establish
by the proximity of the Scottish region. Dundee’s cluster strategic relationships
Offshore Wind projects) and approach brings together and collaborations
emerging and growing areas regional strengths from
such as hydrogen; electric across Tayside and Fife in the Given the significant public
vehicles and a general market engineering/manufacturing and private investment made
demand to lower energy costs sectors via networks, such in infrastructure, Dundee City
and become more sustainable. as Energy Dundee and the Council and our partner’s
Forth and Tay Cluster to are committed to ensure that
Dundee’s strategic location support the offshore sector. Dundee becomes the hub
allows the city to compete for offshore wind, renewable
in regional, national and The strengths include proximity energy and decommissioning
international markets. It is a to the wind farms on the east on the east coast of Scotland.
well-connected location – coast of Scotland, existing This investment includes £10M
allowing access to 90% of facilities and infrastructure by Forth Ports to create a new
Scotland’s population within investment, land supply, existing quayside with an industry-
a 90 minute drive time, and skills, and importantly balance leading “heavy lift” capability,
this is advantageous across all of plant manufacture and coupled with a significant
sectors, including offshore wind. operations and maintenance onshore operational area;
credentials. £5M of investment by the
John Lawrie Group to build a
Investment Prospectus
decommissioning platform;
We want to be a globally recognised centre
of excellence; a world-leader in sustainable
mobility and low carbon energy…
20KEY
SECTORS
Commercial/ Industrial & Renewable
office manufacturing energy
and Dundee City Council’s The city offers an educated Dundee Port
investment in access and workforce with a student The Port of Dundee is owned
trunk roads into the port to population ratio of 1:5, and operated by Forth Ports
and offsite land for supply generating graduate Ltd. It is the closest port to a
chain development. In output across relevant range of Scottish east coast
December 2019, Forth Ports disciplines and opportunities offshore wind development
announcemend a further for the energy sector. zones and is optimally positioned
investment of £40 million into for fabrication, mobilisation
infrastructure at Dundee Port The strong partnership and decommissioning
to support the development established in Dundee is projects for the North Sea
of the energy sector, and committed to building an Oil and Gas Industry.
create further opportunities for industry that is focused on
investment. This investment the offshore market, and with Dundee Port offers unrestricted
demonstrates their confidence the natural wind resource access to the North Sea 24/7;
in the long term energy just off of our coast line we 1600m of quayside; 60 acres for
markets for offshore wind are optimistic for the future. Fabrication and Marshalling; Six
and decommissioning working berths; Gottwald 1500
DUNDEE
at Port of Dundee. Hydrogen Facilities tonne crane; high capacity
Dundee City Council are heavy lift, wharfs and quays
Dundee is home to world a partner in a Horizon 2020 including 200m Purpose-built
class R&D facilities. The cities project, funded by the heavy-lift quayside; normal
two universities offer world European Union, called Jive 2. operating draft of 8.5m;
class research, skilled staff It is a core element within the jack-up capability and full
and training opportunities. overall low-carbon transport mobilisation and demobilisation
The University of Dundee strategy for the Michelin capability/services.
has significant expertise and Scotland Innovation Parc and its
experience of working with development will be one of the
developers in the offshore earliest cornerstone projects.
wind sector and offers an
interdisciplinary and integrated The project will see the
approach bringing together delivery and operation of 12
experts, researchers, and hydrogen fuelled double-
knowledge. In addition, decker buses, together with an
University of Dundee has on-site hydrogen generation
key strengths in advising on and dispensing station.
deployment of foundations,
substructures and turbines, The project will enable the
and addressing the challenges development of a national
of installing these structures hydrogen knowledge hub
in different conditions. to serve the expansion of
hydrogen as a wholly zero
Dundee has a population carbon alternative transport
of 148,710 (490,000 within fuel within Scotland. The project
the Tay Region) providing brings together public and
access to a skilled labour private expertise to evolve,
market, with experience in improve and expand the zero-
engineering, manufacturing carbon public transport offer.
and technical sectors.
21OPPORTUNITY CONTACT:
info@msipdundee.com
MICHELIN SCOTLAND INNOVATION PARC
OVERVIEW
Michelin Scotland Innovation Parc (MSIP):
Creating a new future for people, place and
MICHELIN SCOTLAND INNOVATION PARC
planet. MSIP is an ambitious joint venture
between Dundee City Council, Michelin and
Scottish Enterprise, created to drive growth
and diversity in the Scottish economy while
addressing the global climate emergency.
Covering a 32-hectare site in • Large and medium scale Scottish Enterprise, Dundee
Dundee, we aim to deliver a manufacturing will be in City Council and Michelin,
world class innovation centre, the larger buildings to the alongside Scottish and UK
driving global research while south which are best suited Governments, Transport
influencing and supporting for large scale activities. Scotland and several other
breakthroughs in sustainable • Hydrogen Production Facility agencies are working to
mobility and low carbon redevelop the site as a flagship
and Refuelling Centre will
energy. MSIP will provide innovation parc for Sustainable
industrial spaces and be located on the land Mobility and Low Carbon
facilities for a wide variety to the north of the site. Energy. The formation of a Joint
of organisations, research • New development space Venture company, MSIP Ltd, with
institutions and industry is available for future Scottish Enterprise, Michelin and
trailblazers addressing expansion of MSIP. Dundee City Council is a huge
the global challenges • Events space step forward in delivering the
facing our community, • Facilities and space for vision for this innovation parc
country and planet. tenant companies that will lever the existing low
• Supporting infrastructure carbon energy infrastructure
The Innovation Parc Hub and deliver new innovations in
(specifically designed for Additional facilities will be sustainable mobility and low
collaborative use by industry available to those located carbon. The Michelin-Scotland
and academia focused on here. The Parc will offer a gym, Innovation Parc will provide
sustainable mobility and low creche and vibrant social space modern, flexible and exciting
carbon energy) and The Skills for networking, relaxing and space focussed on innovation
Academy will be in the centre thinking up that next big idea. and manufacturing. It will be
of the site, creating a cluster home to a rich variety of activity,
Investment Prospectus
of activities within a variety MSIP is being developed in attracting companies, research
of new and existing buildings response to the forthcoming institutions and skilled people to
around the green square. This closure of Michelin’s tyre address key global challenges.
will be the heart of the MSIP factory in Dundee with
campus where the shared and the loss of 845 jobs. It will grow the Scottish economy
social facilities are located. by enabling the development
of commercially competitive
innovations and training new
talent for future needs.
22KEY
SECTORS
Industrial &
manufacturing
DUNDEE
This new parc will deliver benefits
to both Scotland and Michelin;
helping Scotland attract
research and investment to solve
key energy challenges, while
also supporting Michelin’s goals
for innovation and sustainable
mobility. It also shows how
Scotland is capitalising on our
climate change ambitions to
create new opportunities that
deliver benefits at a local and
national level, that will have
a real impact on the world
and the climate emergency
we now find ourselves in.
23WHY INVEST IN DUNDEE:
AMICULUM®
OVERVIEW
AMICULUM® is an independent global
healthcare communication, consulting
and learning business with a team of
over 250 healthcare communications
professionals, based in New Zealand,
China, Singapore, UAE, Switzerland, the
UK and the USA. We partner with leading
pharmaceutical, biotechnology and medical
AMICULUM®
device companies in some of the most
complex and exciting areas of medicine.
AMICULUM® comprises eight AMICULUM®’s offices in Dundee in further developing our
distinct agency businesses, University’s incubator facility partnership with the institution.
each led by an experienced on the Dundee City Council
management team whose Technopole opened for business Since its establishment, our
members are all actively in May 2018. With an established Dundee office has continued to
involved in the delivery scientific community and grow and now consists of team
of services to clients. Our university links, Dundee was an members from who specialize in
agencies offer services in obvious location to establish medical writing, client services
medical communications, AMICULUM’s first Scottish office. and creative design. It also
healthcare learning, clinical remains our Scottish ‘hub’ for
and commercial consultancy, The city’s successful track team members travelling from
market access, rare diseases, record in biomedical science, Edinburgh and Glasgow. As
genomic medicine, creative creative design and digital our team continues to grow,
design, digital engagement technologies has presented we look forward to creating a
and advocacy. many exciting opportunities for more established presence,
innovation and collaboration. and to actively contribute to
Every agency has a distinctive Our close proximity to Dundee the ongoing developments
character and area of University – highly regarded as in the city and region.
expertise, but share a single a global centre of biomedical
Investment Prospectus
heritage and vision: research and teaching –
has been a real advantage
“To create a business
environment in which talented
individuals can deliver great
work in collaboration with
their colleagues and clients”
24DUNDEE
To create a business environment in which talented
individuals can deliver great work in collaboration
with their colleagues and clients
25WHY INVEST IN DUNDEE:
OUTPLAY
OVERVIEW
Outplay Entertainment is the UK’s largest
independent mobile game company,
but it’s not the size that matters, it’s the
quality of the games. Founded in 2010,
our talented and dynamic team have been
pouring their passion and creativity into the
development of our games. We care about
our players, and that’s why our games have
been downloaded over 100 million times.
OUTPLAY
Of all the places, in all of The benefits of starting a Now Outplay has over 120
the world, Dundee is where company in Scotland were brilliant people working
we set our roots. We believe undeniable to our founders behind the scenes, it has
that it is the birthplace of Douglas and Richard Hare. experienced constant year-
dynamic and strategic video They had previously set up a on-year growth, and is
games, with great titles such successful gaming company one of Scotland’s happiest
as Lemmings and Grand Theft in California, but decided to places to work. Douglas Hare
Auto calling this sunny city take their skills and knowledge let us in on his little secret;
home. A Mecca for gaming to launch something new in “Not only did we invest in
enthusiasts, both the University their bonnie homeland. The the launch of games, we
of Abertay and Dundee Scottish Government were invested in people.” Scotland
University provide specialised extremely helpful in supporting is a beautifully multicultural
gaming courses, and this the company get off the society, and here at Outplay
attracts talent from all over the ground. Scottish Enterprise we have people from over 20
world… right to our doorstep. put the Hare brothers in nations working together.
touch with potential investors,
and granted us a Regional
Selective Assistance (RSA)
grant for setting up in Dundee.
Investment Prospectus
CONTACT:
Douglas Hare
Not only did CEO
we invest in E: doug@outplay.com
the launch W: www.outplay.com
of games,
we invested
in people.
26The Scottish Government has Over the last decade, Dundee Although we aren’t just here DUNDEE
made tremendous efforts to has benefited from substantial for the work benefits. Scotland
ensure that all guests in this investment, both locally and is one of the most beautiful
country feel welcomed, and nationally. Our tourism figures countries in the world, and we
understands that immigration is have increased, and our are only a short commute from
key to innovation. Scotland has unemployment has decreased. breathtaking sights. Our team
a unique benefit in the UK for With the construction of V&A is constantly out exploring our
companies; skilled talent from Dundee, and many other wee bit hill and glen, whether
across the EU can study for free projects nearing completion, white water rafting down
at our Universities, and many the city’s Waterfront the Tay or bagging a few
choose to stay and contribute Regeneration is bearing Munros, there is nowhere we
massively to our society. fruit. Dundee is set to be at would rather be than here.
the cutting edge of modern
creative industries, and
Outplay is at the heart of it.
27EDINBURGH KEY MESSAGES
A highly skilled workforce, competitive cost base and hard to beat
quality of life make Edinburgh an attractive destination for investors.
The city offers a supportive entrepreneurial ecosystem in which
businesses from start-ups to established organisations can thrive.
A leading financial and technology centre, Edinburgh enjoys one
of the highest rates of successful business start-ups in the UK as
EDINBURGH KEY MESSAGES
the city moves towards becoming the data capital of Europe.
Edinburgh enjoys an award winning reputation as one of the
world’s favourite visitor cities offering flights to over 120 destinations
and rated as one of Europe’s top cruise destinations in 2018.
Hotel occupancy rates continue to be among the highest in Europe.
Leader of Edinburgh City Council – Councillor Adam McVey
“Here in Scotland’s wonderful capital city, we offer an unrivalled
quality of life for our residents – with the majority of our citizens being
among the UK’s most educated workforce. This coupled with a strong
and diverse range of industries – financial services, technology or life
sciences – makes Edinburgh a great place to invest and do business.
Investment Prospectus
Through the transformative £1.3bn City Region Deal and elsewhere,
our public and private sectors and academic institutions are
working ever more collaboratively together to deliver innovative
solutions and undertake ground-breaking research and
development, all of which is contributing towards greater and fairer
economic growth that everyone in the city can benefit from.
The International Business Gateway, University of Edinburgh
and BioQuarter developments, featured further on in
this book, give a true flavour of the breadth of inward
investment opportunities that exist here in Edinburgh,
the fastest growing and most exciting city in the UK.”
28Quick Size
(Metro)
Population
(Metro)
Website
facts 264 km2 1,339,380 www.investinedinburgh.com
EDINBURGH
29OPPORTUNITY
CONTACT:
David Ridd
T: +44 (0) 7730 616 435
EDINBURGH BIOQUARTER E: david.ridd@edinburghbioquarter.com
OVERVIEW
Edinburgh BioQuarter is a major health and
life sciences destination with over £400m of
developments and exciting future plans. A
world-leading location for discoveries in health
research, home to innovative life sciences
companies, honoured clinicians and researchers,
a world top 20 University and many of its
award-winning scientific research institutes.
BIOQUARTER
Edinburgh BioQuarter co-locates 7,500 CURRENT STATUS
healthcare and life sciences experts who
Edinburgh BioQuarter offers scope for significant
work together to create opportunities for
further development of up 230,000m2 space
innovation, ultimately leading to improved
plus 46,000m2 of ancillary space. Work is in
patient care and revolutionary new treatments
progress with c20 hectares serviced and part
developed and c20 hectares unserviced.
The Royal Infirmary of Edinburgh, one of Scotland’s
largest and most prestigious hospitals, joins the
Existing occupiers include the MRC Centre for
world-leading University of Edinburgh’s Medical
Regenerative Medicine and the 7,500m2 first
School and many of its scientific research
phase NINE – Life Sciences Innovation Centre,
institutes. BioQuarter boasts world-renowned
which is now fully occupied. The £50m Centre
capabilities in clinical research, academia,
for Tissue Repair is being constructed and will
healthcare delivery and health informatics –
open in 2020, while a new two-storey 1,200m2
the big data driving precision-medicine, faster
commercial building was constructed in early
development times and better patient treatment.
2018. The Royal Hospital for Children and Young
People (offering a full range of acute, surgical and
Home to a growing cluster of innovative
day care services) is also planned to open shortly.
life sciences companies, Europe’s largest
concentration of stem cell scientists at the
There are proposals for further University of
MRC Centre for Regenerative Medicine,
Edinburgh and NHS facilities at BioQuarter. Plus
some of the best imaging facilities in the country
significant space for commercial developments of
and active collaborations with over half of the
Investment Prospectus
laboratory and office space, either speculatively
world’s top 20 pharmaceutical companies
or with possible pre-lets, along with ancillary
– BioQuarter is a truly unique location.
accommodation including a hotel, multi-storey
car parking, retail outlets and food and drink.
INVESTMENT SOUGHT DEVELOPMENT TIMEFRAME
£100m+ Equity/Debt/Other Ongoing to 2025
Seeking development partner
30KEY
SECTORS
Life sciences Tourism Commercial/ Retail
and biotech & hospitality office & leisure
QUICK FACTS EDINBURGH
A major health and science campus with ancillary mixed use development
Edinburgh BioQuarter is a joint development between 4 public sector partners.
These are: the City of Edinburgh Council, NHS Lothian, Scottish Enterprise
and the University of Edinburgh
Supplementary Planning Guidance in place and Planning Permission
in Principle secured for Phase 2 and 3 of the masterplan
230,000m2 of life science space plus 46,452m2 of ancillary space
www.edinburghbioquarter.com
31OPPORTUNITY
CONTACT:
David Cooper
E: david.cooper@edinburgh.gov.uk
EDINBURGH WEST INTERNATIONAL T: +44 (0)131 529 6233
BUSINESS GATEWAY
OVERVIEW
The Edinburgh International Business Gateway
(EIBG) offers mixed-use commercial-led
opportunities seeking £110 million of co-
INTERNATIONAL BUSINESS GATEWAY
investor, equity co-development and
development funding. EIBG is a £700+
million commercial and residential property
development on 90 hectares of land.
EIBG is a high profile EIBG is a multi-phased A tram stop at the site creates
development on a gateway site development and planning excellent links to both Edinburgh
at the entrance to Edinburgh permission has been submitted Airport and the city centre.
International Airport, Scotland’s for phase one with opportunities The new £48 million Edinburgh
busiest airport. EIBG forms the in offices, hotels and residential Gateway station (which is on the
important first phase of the along with ancillary restaurant, main east coast line between
broader International Business leisure and retail. The site benefits Edinburgh and Aberdeen) is two
Gateway part of Edinburgh’s from a strategic and prominent stops away by tram and the site
strategic expansion to the west. position fronting the A8 and the is well serviced by Scotland’s
entrance to the airport. motorway and trunk road network.
QUICK FACTS
Business led development of international importance adjacent to Edinburgh Airport
Total site area: Site extends to 105 hectares
232,000m2 of high quality business space
2,350 residential units
Investment Prospectus
1,410 hotel rooms
Site served by Edinburgh Tram
High quality public realm to drive placemaking and sense of community
Ancillary retail and leisure facilities
www.eibg.co.uk
32KEY
SECTORS
Urban Commercial/ Tourism Retail
residential office & hospitality & leisure
EDINBURGH
CURRENT STATUS
The recently agreed City Region Deal allocates £20 million
towards supporting infrastructure in this area and work is
now underway on the strategy for delivery.
33OPPORTUNITY
CONTACT:
Hugh Edmiston
T: +44 (0)131 650 9844
UNIVERSITY CAPITAL E: Hugh.Edmiston@ed.ac.uk
DEVELOPMENT PROGRAMME
OVERVIEW
The University of Edinburgh is one of the
world’s leading academic institutions and
has ambitious plans to invest over £1.5bn
in its estate over the next 10 years.
King’s Buildings CURRENT STATUS
EDINBURGH UNIVERSITY
The King’s Building campus is a leading science
Work is already underway on this significant
and engineering establishment and a major
investment portfolio with individual projects at
focus of University activity. The master planning
various development stages. There is significant
exercise has been completed and sets the scene
potential for investment across all of the portfolio.
for developing the campus over the next 10 years.
Easter Bush
Easter Bush has the largest concentration
of animal and agriculture science related
expertise anywhere in Europe and is now in
the eighth year of a 20-year master plan.
The next two years will see £60m of investment
in the form of a new innovation centre,
campus staff and student facilities, leisure
and sports facilities, infrastructure and a new
large animal surgery. Further development
is planned of circa £150m including a Large
Animal Research & Imaging facility, teaching
building, infrastructure, expansion of animal
hospitals and more animal support facilities.
City Centre Campus
The University is developing a £650m
masterplan centred on its City Centre estate
which will bring together its internationally
recognised centres of expertise to create Image: University of Edinburgh
a geographically compact campus.
Investment Prospectus
Edinburgh BioQuarter QUICK FACTS
The Edinburgh BioQuarter is an £800m shared
vision between the University of Edinburgh,
NHS Lothian, the City of Edinburgh Council and £1.5bn + programme
Scottish Enterprise to bring together academic
scientists, clinicians, nurses, patients and industry,
in world-class facilities, on one site. The four
Four different locations
partners continue to advance their 10 year
capital and infrastructure programme, estimated
at £800m, to deliver 150,000m2 of development. Education, research, infrastructure,
commercial, health, student
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