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18/01/2019

Funding deal unlocks huge 3,450-home development close to Edinburgh

Words: Roger Milne
New housing / Shutterstock_509223637

West Lothian Council, the Scottish Government and West Coast Capital's Winchburgh Developments Limited have reached a shared agreement to unlock and progress a huge residential-led scheme seven miles from Edinburgh Airport.

The scheme would be built across 347 hectares of land at Winchburgh.

The masterplan will see the settlement transformed with a new town centre – the first in West Lothian since the 1960s – as well as new schools, healthcare facilities, leisure and play areas, and up to 3,450 new homes over the next 20 years. The housing will include 700 affordable homes and more than 400 for social rent.

The project will involve a new M9 junction to open up prime employment land as well as a railway station, a 30-hectare district park, and a marina. So far, 558 homes have already been delivered by five national housebuilders.

Under the agreement the local authority will make its largest-ever single capital investment in the expansion of the village with the delivery of the new schools programme. The council is borrowing money to forward fund the new schools, which will be paid back through developer contributions, and underwritten by guarantees from the government and Winchburgh Developments Ltd.

The Scottish Government’s Building Scotland Fund is to provide a loan to assist the development as part of a support package agreed under the Edinburgh and South East Scotland City Region Deal.

The total package of support includes a standby facility from the government of up to £15 million to the council in support of its borrowing for the schools, as well as a £26.8 million loan to Winchburgh Development Ltd, from the Building Scotland Fund, to support the delivery of housing-related infrastructure.

Winchburgh Developments Limited Owners West Coast Capital have agreed a joint venture with CALA Homes for this latest phase of the development.

Image credit | Shutterstock

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