West Coast Capital (WCC), a private equity partnership and owner of Winchburgh Developments (WDL), has agreed to form a joint venture with CALA Homes to invest in the development of the masterplan across 347 hectares for the construction of 3,450 homes at Winchburgh in West Lothian outside the Scottish capital of Edinburgh.
Consequently, WCC and CALA Homes will be the joint owners of Winchburgh Developments.
The development, one of the largest in the UK, will also include new schools and a range of infrastructure, such as improved transport links, a new marina, a 75-acre district park and 35 acres of employment land.
Earlier, a tripartite agreement has been signed between the Scottish government, West Lothian Council and Winchburgh Developments.
Under the agreement, Winchburgh Developments will deliver the overall masterplan, which will unlock sites for 3,450 homes for multiple house builders, as well as meet the housing needs in West Lothian, including some 700 affordable houses and more than 520 for social rent.
As part of the agreement, West Lothian Council will construct modern schools, which will be forward funded by the council with support from the Scottish government. However, the schools will ultimately be paid for by house builders across West Lothian through receipts in the form of roof tax as housing is developed.
The Building Scotland Fund will also provide loan of £26.8m to the joint venture towards the development on a secured and interest-bearing basis.
Five private house builders – Barratt Homes, Miller Homes, Bellway, Stewart Milne Homes and Taylor Wimpey – were involved in the first phase of the Winchburgh project and many more are expected to participate in the ongoing development.
West Lothian Council’s housing department and the Wheatley Group, through its subsidiary West Lothian Housing Partnership, have delivered 96 affordable housing units for social rent in the new town centre.
Image: The development being taken up at Winchburgh in West Lothian, outside Edinburgh. Photo: Courtesy of CALA GROUP.