Motherwell Town Centre
(click here to view aerial site plan)
The Highland Group initially purchased a 6 acre (2.43 hectares) site adjacent to the centre of Motherwell from Strathclyde Regional Council on a conditional on planning basis, following a closing date. Highland obtained a detailed planning permission for redevelopment of this site for 61,000 sq. ft. (24,690 sq mtrs) of class 1 retail. Subsequently, we persuaded the Planning Department to rezone the site in the Local Plan as an extension to the town centre.
Highland then entered into an equal Partnership with the Co-Operative Insurance Society (CIS) to amalgamate this site with the existing town centre, which required modernisation and refurbishment. The amalgamation of the two interests removed the physical restriction on redeveloping and refurbishing the town centre.
The Partnership then acquired ground lease and feuhold interests in the remainder of the town centre from the local Council, thus marrying disparate interests and removing redevelopment restrictions.
The Partnership, to which Highland provided the development expertise, also obtained outline planning permission to refurbish the town centre and provide an additional 285,000 sq. ft. (26,480 sq mtrs) of retail and leisure space.
The Partnership then sold a site to ASDA for a new £25m superstore of 71,000 sq ft (6,600 sq mtrs) and took back their existing store for redevelopment. Taking advantage of market conditions and historically low yields, the Partnership sold most of the town centre in February 2007.
After a successful conclusion of its aims, the Partnership was wound up in early 2011.