Work begins on PPP Project brokered by CB Richard Ellis (Scotland)
Leading property consultant, CB Richard Ellis (Scotland), has announced that it has brokered a deal between its client, Muse Developments Ltd and Mactaggart and Mickel, to develop two of the sites rendered surplus to requirements from the East Dunbartonshire Council schools PPP project.
The deal involves four sites which are suitable for a range of residential and mixed-use development.
CBRE advised Muse Developments Ltd in its successful bid to develop the surplus land emanating from the East Dunbartonshire schools PPP project. CBRE carefully marketed the opportunity on behalf of Muse Developments Ltd to select a preferred house builder who could deliver the appropriate developments on two of the five sites, working closely with East Dunbartonshire Council. Mactaggart and Mickel were the selected company.
Jamie Doran, Associate Director of CB Richard Ellis (Scotland) commented:
“We are delighted to be advising Muse Developments on this project, which has resulted in a mutually beneficial outcome for all parties involved. East Dunbartonshire is a prime location for residential development and the respective development opportunities will provide new quality homes and apartments in a highly sought after area.
“The project’s first phase will involve four schools built over two years, followed by a second two-school phase which is expected to be completed within 18 months. Construction of the schools in the first phase has now started and is progressing well. Development of the surplus sites will only take place when the respective new schools are operational, which will not be until 2009.”
Stephen Turner at Muse Developments Ltd commented:
“CBRE have advised Muse from the outset on this project and have worked with us to deliver what will ultimately be a diverse and prestigious group of mixed-use regeneration projects.”