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Glasgow docks set for £400m rejuvenation

THOUSANDS of construction jobs will be created if a £400 million dockside development in Glasgow is given the go-ahead.

Developer and ports operator Clydeport and the Bank of Scotland have developed plans for the new waterfront village.

The development, on the banks of the River Clyde, will represent one of the city's biggest ever property ventures.

Property industry sources speculate that the development will be modelled on similar schemes in east London and Liverpool, where redundant docks have been transformed into thriving communities.

It is understood that the project will include 50,000 sq m of offices, 10,000 sq m of shops, 1,000 new homes and 25,000 sq m of leisure facilities, regenerating a run-down 3.5 km stretch of the river's north bank, known as Meadowside.

A planning application for the scheme will be submitted to the city council soon.

The project is in its early stages and there are no details yet of the procurement route or a start date on site.

The Bank of Scotland is understood to be taking a 50 per cent stake in the project and will put up the initial funding.