* UNDER OFFER *
Alexandria is located approximately 20 miles west of Glasgow City Centre within West Dunbartonshire (population c. 92,000 people) between Dumbarton and the limitless attractions of Loch Lomond and The Trossachs National Park. Comprising the 3rd largest urban area within West Dunbartonshire, the town benefits from excellent road communications via the A82/M8 and Erskine Bridge to Glasgow/Glasgow Airport. Immediately adjoining the town centre, Alexandria Railway Station provides direct lines to Glasgow Queen Street and the A82 - to the immediate west of the town centre - comprises the main vehicular route for all commercial and tourist traffic to Oban, Fort William and beyond. Neighbouring attractions include Dumbarton Castle, Loch Lomond Shores Retail and Visitor Centre, Levengrove Park and Loch Lomond Golf Course. The Mitchell Way Development Site, readily accessed from Main Street and Bank Street, lies in the heart of Alexandria Town Centre, in close proximity to such retailers as Boots, M & Co and Iceland.
The Mitchell Way Development Site lies to the immediate south of Mitchell Way and comprises a sloping site rising from Bank Street to the south and east. The site currerntly comprises a mixture of roads, taxi ranks, parking areas, service yards, electrical substation and commercial properties in temporary occupation. Of these, Nos. 30 to 40 Mitchell Way are scheduled for demolition as part of the Council's site assembly. The additional side is effectively bounded by Bank Street and the rail line to the west of the Mitchell Way Development Site. This area, again on a slope rising towards the station, is effectively undeveloped and currently given over to hard standing for use of rail commuters.
The site falls under the West Dunbartonshire Local Plan adopted in March 2010. The plan identifies the Mitchell Way site as falling within Alexandria Town Centre, and under the terms of Policy RET1, town centres are identified as the preferred location for new retail, commercial, leisure, cultural and public service development. In addition the Policy GD2 identifies land at Bank Street as a redevelopment opportunity for retail, residential and commercial use.
The proposed West Dunbartonshire Council Local Development Plan has been through Examination and identifies Alexandria Town Centre as a "Changing Place", with the strategy to include strengthening of the retail offer through identification of opportunities for a new food store and other new and refurbished retail floor space. It further identifies the desire to increase the population of the Town Centre through residential development opportunities. The plan supports the development of a new food store on the site extending south from Mitchell Way. In addition, the provision of new and refurbished commercial units and residential developments as part of a mixed use proposal centred on Mitchell Way is also supported.
Sale of the Mitchell Way Development Site will take place via a public Invitation To Tender. A full copy of the ITT and relevant background/supporting documentation is available from this office.
Our client seeks to obtain a premium (capital receipt equivalent) in return for a 125 year ground lease at a peppercorn rent of £1 pa (one pound sterling), with option to purchase following practical completion.
The ITT procurement process will close 14th December 2015, with the successful bidder advised March 2016. Development will commence 12 months later following completion of all necessary legal and planning formalities.
Both sites have been elected for VAT.
The subjects comprise open sites which may be viewed at leisure. Accompanied viewings may be organised in advance with the appointed agents.
Schedule for 22nd of October and the 18th November 2015, interested parties are invited to partake in Developer Days hosted by WDC. Whilst not mandatory, these are designed to offer the opportunity for individual parties to raise queries pertinent to their proposals.
The Mitchell Way Development Site and, if required, Additional Site will be tendered for sale at closing date via the ITT process indicated above. All interested parties are invited to register their formal interest in order to gain access to the ITT documentation, supporting data bank, and to be advised of future procedural matters including Closing Date.
Enquiries regarding this development opportunity should be made to this office.
|5533_Alexandria Town Centre_PDF.PDF|