Stirling retail complex wins approval

14/04/2008 11:42:40

A new retail development is set to be built in Stirling after a property development firm won planning approval.

Forrest Developments intends to create a new 75,000 square foot retail complex on derelict, contaminated land at Drip Road.

Although construction work is not set to be completed for some time, the £20 million scheme has already agreed a leasing deal with TK Maxx, which will occupy 50 per cent of the retail space.

Donald Stewart, managing director at Forrest Developments, said: "This is a significant, privately-funded chunk of business and one of the few planning consents of its type granted this year.

"We have enjoyed great success specialising in out of town retail and leisure developments and we remain committed to that business, committed to investing in the Scottish property market and investing in Scotland."

It is hoped that the project will be completed by summer 2009, pending final planning approval from the government.

Forrest Developments has a number of projects currently in the pipeline and announced in February that it is currently developing more than 500,000 square feet of retail space.

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