Ravenscraig deal for Richardsons
A FIRM of international retail specialists that masterminded shopping malls in Rome and Vienna will help spearhead the next phase of the Ravenscraig steelworks regeneration project.
Richardsons Capital has formed a joint venture with Wilson Bowden Developments to lead the development of the £600m town centre near Motherwell.
They will work with internationally renowned architects firm HOK, which will develop draft concepts for the town centre along with property advisers Cushman & Wakefield and Glasgowbased retail specialists Hamilton Glen. The new town centre will include one million square feet of retail and leisure facilities and work is expected to begin next year.
Richardsons has an extensive track record in delivering major retail and leisure projects in Britain and Europe, including Castel Romano in Rome and Parndorf in Vienna. Closer to home it was involved in Westwood Cross in Kent, Printworks in Manchester and the Merry Hill Regional Shopping Centre in Dudley.
Wilson Bowden Developments and Richardsons have worked together on a number of previous projects, including Edinburgh Fort.
HOK is the world’s largest architectural and engineering firm and has designed several retail centres, including the Dubai Marina and Suzhou Industrial Park at Time Square in China.
Work is already well under way on the £200m first phase of the redevelopment of the 1,100acre site in Lanarkshire with a £30m regional sports facility and £70m campus for Motherwell College. Work has begun on 850 homes.
Wilson Bowden’s development director Jim Fitzsimons said: "This is a project of national significance and it is vitally important we get the best people involved to bring it off the drawing board and into reality.
"Both Richardsons and HOK share our vision of what is required to make Ravenscraig a success and we are confident they will help us deliver a stunning development which will become a landmark destination in central Scotland.
"The evolution of phase one, which has seen major investment in stateoftheart sports and education facilities, combined with our ambitious plans for phase two, offer concrete evidence that the rebirth of Ravenscraig is well under way."
The redevelopment of Ravenscraig is expected to create 12,000 jobs and attract more than £1.2bn of private sector investment over 15 to 20 years.
Development activity for phase two is scheduled to begin later this year and work will continue for three years.
The town centre will feature a combination of retail, leisure, restaurant and community facilities in a modern centre. There will be 1,500 homes and 500,000 sq ft of commercial space.
It will be served by a new railway station, a bus interchange, and have substantial car parking with dual carriageway access from both the M8 and M74.
Lee Richardson, of Richardsons Capital, said: "We have significant experience of this type of activity and are looking forward to delivering a new town centre which will appeal to local people and visitors alike."
Fitzsimons added: "Ravenscraig is one of the most ambitious regeneration projects ever seen in Scotland.
"Phase two will see us create a living, genuine town centre, featuring a range of modern facilities which will identify Ravenscraig as an attractive place to live, study and do business, as well as shop.
"Over the next two decades, Ravenscraig will encompass the very best Scotland has to offer, including sustainable housing, employment and education facilities, excellent transport links and topclass leisure, retail and business space. Through a dynamic programme of regeneration and renewal, Ravenscraig is set to become a vibrant showcase of health, wealth and vitality for people today and for future generations."
North Lanarkshire Council approved an outline planning application for the overall development in April 2003.
Original source : The Scotsman
