Firms lured to £1bn Dundee Waterfront plan

A growing number of international and UK-based investors and developers are showing interest in the £1 billion Dundee Waterfront regeneration project that will transform 240 acres of land along 8km of the River Tay.

Dundee Waterfront is a partnership between Dundee City Council and Scottish Enterprise and is expected to create up to 7,000 jobs.

The plan already includes the creation of a new V&A Museum of Design (pictured) and the redevelopment of Dundee railway station, as well a new marina and new hotels, port developments, offices, bars, shops, cafes and residential accommodation.

And now, the team behind the project say they are having talks with businesses from sectors that include life sciences, renewables, professional services, financial and back office services, contact centers and creative industries.

Dundee Waterfront recently released 1 million square feet of prime commercial space suitable for office, leisure, retail and residential development.

The Waterfront team will announce next month that more than £600 million of investment has already been secured for the project, and will encourage investors to explore the range of opportunities available.

The first of three investment and development roadshows for the Waterfront project will be held in Aberdeen on November 5, followed by others in Edinburgh and Glasgow on November 10.

“We are delighted at the interest being shown in the business potential on offer in the waterfront area,” said Mike Galloway, director of city development at Dundee City Council.

“We are keen to encourage sustainable, design-led development that reflects Dundee’s status as the UK’s first Unesco City of Design.

“Most of the land in the central Waterfront is owned by Dundee City Council, so we can work in partnership with investors and take a long-term holistic approach to development.

“We are also open to joint ventures so would encourage businesses and entrepreneurs to contact us with their concepts.”