Landmark investment deal for Winchburgh
A landmark deal is set to transform Winchburgh through massive investment in new schools, new homes and vital infrastructure.
West Lothian Council, the Scottish Government and West Coast Capital's Winchburgh Developments Limited have reached a shared agreement that will unlock development at one of the largest sites in Scotland.
This will allow huge investment estimated at a value of over £1 billion over 20 years to take place to grow Winchburgh, providing a major jobs boost for the West Lothian and Scottish economy.
This will include: a number of new state-of-the-art schools; around 3,450 new homes, including over 700 affordable homes and more than 400 for social rent; a new M9 junction to open up prime employment land; a railway station; a 75 acre district park; and a marina.
West Lothian Council to make their largest ever single capital investment in Winchburgh, with the delivery of the new schools programme. The council are borrowing money to forward fund the new schools, which will be paid back through developer contributions, and underwritten by guarantees from The Scottish Government and Winchburgh Developments Ltd.
West Lothian Council's Executive councillor for education David Dodds said: "We are delighted to have reached a deal with The Scottish Government and Winchburgh Developments Ltd that supports the plans to expand Winchburgh.
"Winchburgh represents the right development in the right place and will help meet the demand for people looking to find a home for their family or business in West Lothian, which is one of the fastest growing areas in Scotland.
"Key to the development is the delivery of new state-of-the-art schools for Winchburgh in the council's largest ever single capital investment. West Lothian already has one of the best school estates in the country, giving a platform to help our young people achieve their full potential and support life-long learning for the whole community."
The deal also sees the Scottish Government providing a £26.8 million loan through their Building Scotland Fund to Winchburgh Development Ltd to help deliver essential infrastructure required that will deliver thousands of new homes.
The Scottish Government's Finance Secretary Derek Mackay said: "The Winchburgh development is a leading example of a joined-up approach between the private sector, government and local council.
"It will help stimulate the economy and bring new homes, schools, transport and community facilities to the area."
Winchburgh Developments Limited owners West Coast Capital have agreed a joint venture with CALA Homes to invest in the development and delivery of the overall masterplan across 347 hectares at Winchburgh in West Lothian.
Sir Tom Hunter, Founding Partner of West Coast Capital said: "Both West Lothian Council and the Scottish Government have played a critical role in securing this long-term development for Scotland.
"Having already delivered over 558 homes in the first phase with five national housebuilders we now look forward to moving forward with many more housebuilders to deliver much needed homes for West Lothian in the next phase of development."
John Hamilton, CEO, Winchburgh Developments Limited added: "The masterplan for Winchburgh goes far beyond building new homes.
"This is set to be one of the most exciting placemaking projects in the UK, which will bring new education facilities, a significant number of permanent jobs, and improved transport links to the area."
For further information, visit Winchburgh Village website