£21m redevelopment money allocated

Jan 3 2013

Funding of around £21 million has been announced for projects aimed at regenerating parts of the west of Scotland.

A total of £16 million will go towards the development of 120,000 sq ft of waterfront office space in Dalmarnock, Glasgow, safeguarding around 300 construction jobs.

The Clyde Urban Gateway Regeneration Company will receive the cash for a development which is hoped will act as a catalyst for growth in the area.

As well as that, £5.2 million has been granted to Irvine Bay Urban Regeneration Company for three projects in its area: £2.5 million will go towards turning a derelict building in the centre of Ardrossan into a medical centre, £1.5 million is for the first phase of an office park in Irvine and £1.2 million is for industrial units in the town.

The funding comes after the Scottish Government received extra money as a knock-on effect from UK spending decisions.

The SNP administration pledged to start a building boom with the extra £205 million made available through the Chancellor's autumn budget statement.

Announcing the funding, Deputy First Minister Nicola Sturgeon said investment in regeneration projects is "absolutely imperative in tough economic times" and that the projects would make a "substantial difference" to their communities.

She said: "The UK Government has, in part, listened to our message that more capital investment is needed if we are to stimulate growth in our economy.

"The money provided as part of the autumn statement has reversed at least some of the cuts Westminster made to our capital budget.

"We are determined to inject these funds into our economy as quickly as possible, as demonstrated by today's announcement, to provide the stimulus for growth we know is vital."