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Richardsons jumps into £600m scheme

Developer Wilson Bowden has entered a joint venture for the £600 million second phase of the Ravenscraig steelworks regeneration project in Lanarkshire.

The Barratt Developments-owned group has appointed Richardsons Capital as a partner for the project, which will see a new town centre developed at the 445 ha Motherwell site.

US-based architecture group HOK has also been appointed to develop concept plans for the project, along with property consultants Cushman & Wakefield.

Work is expected to begin next year on the town centre, which will include more than 90,000 sq m of retail and leisure space and about 1500 homes.

Development has started on 850 houses, a £70 million campus for Motherwell College and a £30 million sport centre as part of the first phase of the ambitious regeneration scheme.

The second phase is expected to take about three years.

Wilson Bowden development director Jim Fitzsimons said: "This is a project of national significance and it is vitally important we get the best people involved to bring it off the drawing board and into reality".