Going out with a #50m bang

#50m mixed scheme shows that the new town is keen to call the shots and

maintain its momentum all the way to the wind-up of the development

corporation by the middle of the decade.

Cumbernauld claims that the ambitious Broadwood scheme will be

''Scotland's first fully integrated business, commercial and leisure

development''. If it comes to fruition, the project will round off the

new town. Cumbernauld has attracted many industrial and warehousing

operations (around three million sq.ft has been let in the last five

years) but would like to see a higher proportion of office, hi-tech and

research occupants. Announcing the project, David Mitchell, chairman of

Cumbernauld Development Corporation, said: ''This is undoubtedly the

most exciting project ever conceived by a Scottish new town.

''Within a single development we will achieve several prime

objectives.'' The Broadwood scheme will comprise a 200,000 sq.ft

business park, retail park, garden centre, mini grand prix racing

circuit, and 300 houses. The centrepiece will be a new stadium for Clyde

FC. The arena will also offer facilities for rugby, American football,

athletics, tennis and indoor sports such as karate, judo, fencing etc.

It will be open seven days a week and will provide catering and

recreational facilities for a wide area. Most of the #50m development

costs will come from the private sector. The Walker Group has been

selected as developer. The Broadwood project will be the group's second

joint venture partnership with Cumbernauld Development Corporation. The

first, the #40m Westerwood scheme, is nearing completion.

Michael Walker of the Walker Group said: ''After our involvement at

Westerwood, our participation with the Broadwood scheme seems like a

natural progression. I'm confident of completion within five years.''

This would be just in time for the Scottish Office's planned wind-up of

the development corporation's role.

Construction will be on a rolling programme and work will begin

immediately. The all-seater stadium is scheduled for completion in a

year's time. The first units of the business park and the first retail

units will come into use shortly thereafter.

The funding package is complex and the scheme only became feasible

after OKI, Cumbernauld's largest private employer, gave the development

corporation a cash injection by deciding to purchase their factory and

adjoining development land. The development costs include: #20m for the

business park, #11m for the stadium, #3m for groundworks, #6m or more

for the race track, retail and garden centres and an unspecified amount

for the housing element.

The funding package includes participation by Cumbernauld Development

Corporation, Dunbartonshire Enterprise, The Football Trust (a #500,000

donation towards the stadium costs), the Walker Group, and Malibu

Enterprises (who will develop and run the mini motor racing circuit).

The 15-acre business park will consist of two-storey buildings ranging

in size from 2000 sq.ft to 10,000 sq.ft, laid out around a new loch.

Business park occupants will have the advantage of recreational,

catering, retail and exhibition space associated with the stadium and

the retail park.

Andy Carswell of marketing agents McEvoy Vigers said: ''This unique

combination of business, leisure and commercial elements holds out

tremendous prospects for success.

''Cumbernauld is already well placed to capitalise on the growing

interest in Scotland's Central Belt and the combined facilities being

provided at Broadwood will undoubtedly prove to be a major attraction.''

Properties will be available for purchase or rental. Custom-built

units can be supplied to meet specific needs. Cumbernauld Development

Corporation's commercial director, Donald McLean, hopes to attract

traditional offices, research centres and financial services companies.

With something like six million sq.ft of new business park space

proposed around greater Glasgow, Cumbernauld will have its work cut out

to get a share of the action. But the prospect of lower rentals than

those being quoted nearer the city could be a vital attraction to the

wider range of space users which would allow the town to claim that it

is a fully-rounded economic unit.