Glasgow, Cardiff and Belfast are all continuing to see significant investment in regeneration projects. Projects range from the redevelopment of city centre brownfield sites to massive waterfront regeneration projects that will span decades. Thanks to new investments in renewing the urban landscape of these regional economic centres, Scotland, Wales and Northern Ireland will benefit from new employment and business opportunities in a number of sectors.

Scotland

Outside of London, Glasgow is the most important financial hub in the United Kingdom. It is also a top shopping destination and has seen an investment of over £6 billion since 2011 in infrastructure, offices, hotels, leisure, education, health, housing and retail according to the Regeneration Investment Organisation (RIO). With a gross development value of £2.7 billion, the Clyde Gateway in Glasgow is one of Scotland’s flagship regeneration projects. In addition to adding modern commercial and industrial spaces, the project features new leisure and residential development.

Scotland’s largest regeneration area sits east of Glasgow’s city centre. It is served by the M74 Motorway and train services from three railway stations link the area with Glasgow Central in five minutes. The Clyde Gateway includes 840 hectares within Glasgow’s borders as well as neighbouring South Lanarkshire. There is potential for between 450,000 and 600,000 square metres of new commercial space. Key projects include Shawfield National Business District with up to 350,000 square metres of commercial space, Rutherglen and its 20,000 square metres of commercial development, and Dalmarnock’s potential for up to 100,000 square metres in commercial floor space. The area will also see up to 10,000 new homes built over the next 20 to 25 years.

The Dundee Waterfront regeneration project is expected to create up to 9,000 permanent jobs by the time it is completed. Development of the Dundee Waterfront began in 2001 and is expected to continue into 2031. The 240-hectare site has an estimate gross development value of over £1 billion, according to the RIO. The project’s main goal is to create a new central business district that connects the city centre with the eight-kilometre long waterfront along the River Tay.

Several major companies have established operations at the site, including Alliance Trust, Aviva, DC Thomson and Stagecoach. Dundee Waterfront’s main area is the Central Waterfront, which is the future home of the V&A Museum of Design Dundee and a rebuilt rail station. The V&A will also serve as an international centre for design. There will also be new commercial, leisure and residential developments in addition to hotels and public spaces. City Quay boasts more than 20,000 square metres of commercial space, including nearly 10,000 square metres of new offices at River Court and City Court. The Riverside is home to Dundee Airport and is a main transport gateway. The former landfill site also includes the Riverside Business Area, which offers spaces for storage and distribution, industry, and other businesses uses. The Seabraes is a focal point for digital media and creative sectors. Within walking distance of the University of Dundee and other institutions of higher learning, the former railway yard will become a hub for businesses in these sectors. The site also includes the Port of Dundee, a strategic entry point for goods that also offers storage, warehousing and other facilities.

Wales

The M4 corridor along South Wales has become an important hub for service sector businesses, particularly around Cardiff and neighbouring Newport. The Welsh capital has seen significant investment in recent years, particularly with the establishment of economic clusters in and around Cardiff Bay. The development of this area has helped driver economic growth and regeneration in the city.

Cardiff Pointe represents one of the largest mixed used regeneration projects in Wales. The 50-hectare site has a gross development value of £715 million and could see up to 2,000 permanent jobs created by 2019. The development incorporates the Cardiff International Sports Village and overlooks Cardiff Bay. The goal is to create a leisure, winter sports and retail destination with a new ice arena, an indoor ski slope, and 19,000 square metres of retail, cafes and bars, offices and hotels. The development will reinforce Cardiff as a major destination for sport and tourism.

North of Cardiff is the Circuit of Wales, a regeneration project focused on 336 hectares next to Brecon Beacons National Park. The RIO estimates the project’s gross development value to be £500 million. Once complete, it is expected to help create 10,000 permanent jobs. Businesses will benefit from tax benefits thanks to its designation as an enterprise zone. The site will also have excellent transport links to other areas in Wales as well as the Midlands.

The Circuit of Wales will create a leading motorsport destination with the construction of a world class 5.1-kilometre track that will be able to host virtually any major international and national event. The project centres on the construction of a £315 million facility that will create a centre of excellence for motorsport. The project will also include the development of land for automotive-centred industrial and commercial activities as well as high technology businesses. In addition to motorsport education and test facilities, there will be two new hotels and other tourism-related facilities. Leisure, retail and residential developments are also planned for the Circuit of Wales.

Northern Ireland

The Titanic Quarter is a landmark regeneration project for Northern Ireland’s capital city and one of the largest redevelopment projects in the world. The site is where the RMS Titanic was designed, built and launched. The waterfront development also respects Belfast’s heritage with investments in honouring the city’s history with new galleries, theatres and outdoor spaces. A major attraction is Titanic Belfast, the SS Nomadic, Titanic’s Dock and Pump House, and the Titanic Slipways that were used to launch the Titanic.

The RIO estimates the Titanic Quarter’s gross development value is £2 billion. Development of the 121-hectare site began in 2011 and is expected to continue into 2035. When complete, the development of the Titanic Quarter will have created an estimated 5,000 temporary jobs and 30,000 permanent jobs. Additional development on the site will include a new boutique hotel, a major retail development, a film and media hub, a financial services centre, and additional office development to meet demand.

The Titanic Quarter is an increasingly important hub for businesses in Belfast and has the potential to drive economic growth for years to come. An estimated 18,000 people already live, work and study in the Titanic Quarter and the site attracts over a million visitors annually. It is also home to more than a hundred UK and international companies, including Citi, IBM, Microsoft and SAP. Belfast Metropolitan College and Queens University also operate facilities at the site.

Sources:

http://www.titanic-quarter.com

http://www.circuitofwales.com

http://www.investinclydegateway.com/

https://www.dundeewaterfront.com/

https://www.gov.uk/government/publications/regeneration-project-clyde-gateway-gdv-2700m/regeneration-project-clyde-gateway-gdv-2700m

https://www.gov.uk/government/publications/regeneration-project-cardiff-pointe-gdv-715m/regeneration-project-cardiff-pointe-gdv-715m

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