Clyde Gateway at UKREiiF: Driving Investment, Innovation, and Sustainable Growth
“Although there are perhaps lessons to be learned from this approach, Glasgow, which has a different legislative context and standing, had one of the most visible presences at UKREiiF. With Invest Glasgow, Glasgow City Region, Scottish Enterprise supported by Glasgow City and South Lanarkshire councils, there was a significant focus on attracting more capital and investment to the city”.
The recent UK Real Estate Investment and Infrastructure Forum (UKREiiF) in Leeds has cemented its place as a major platform for shaping the future of development across the country. With over 16,500 delegates from across the UK and abroad, it has become a central hub for policy and investment in real estate.
Regionalisation was one of the key topics for discussion this year with many of the regional combined authorities in England, like Manchester, Liverpool and Tees Valley, espousing the value and momentum that their devolved regional investment powers have brought to their respective cities and towns. If you go to any of these areas, you can see for yourself the levels of transformation that have been achieved in recent years.
Although there are perhaps lessons to be learned from this approach, Glasgow, which has a different legislative context and standing, had one of the most visible presences at UKREiiF. With Invest Glasgow, Glasgow City Region, Scottish Enterprise supported by Glasgow City and South Lanarkshire councils, there was a significant focus on attracting more capital and investment to the city.
This was heavily boosted by the announcement of a new £500m masterplan for the east end of Glasgow and Rutherglen. Named Clyde Gateway Innovation, the plans will see over 100 hectares of land in Dalmarnock and Shawfield transformed into a mixed-use ecosystem of flexible business and commercial space, as well as hotel and residential development, all with direct access to low carbon heat networks and green infrastructure, in a highly accessible location. Designed to create high-value jobs, deliver sustainable business growth and sustain increased inward investment, this has the power to leverage investment for Glasgow just as much, if not more, as any other area of the UK.
It was apparent from UKREiiF that to make projects like Clyde Gateway Innovation successful within the current public policy and economic context, then collaboration between public, private and academia must be stronger than ever. This so-called triple helix of innovation can drive regeneration and ultimately jobs and economic growth. With the research expertise of the University of Strathclyde being leveraged in parallel with funding and commercialisation from the private and public sectors, there is a real opportunity to make Clyde Gateway and its local communities a hub for innovation, advanced manufacturing, clean energy and life sciences.
CGI showing how new investment will look at Shawfield, adjacent to the existing Red Tree Magenta
Importantly, this economic growth can be balanced with positive environmental, social, and sustainability outcomes that are now so craved by financial backers, whether they be private institutions or bringing public money - another key focus of UKREiiF. It was clear from conversations and from the topics being discussed at the many events across the week that these outcomes are almost as important for investors and shareholders as financial ones. This is where Clyde Gateway can excel, with a strong track record of delivering economic growth and jobs, alongside greenspaces, community improvements and much needed housing. Clyde Gateway Innovation in particular, will continue the accelerated delivery of such benefits in a maturing regeneration area.
UKREiiF is the leading forum for real estate in the UK. It is hugely reassuring that Glasgow and the wider City Region played such a central role in it this year. Of course, the real challenge will be ensuring that this momentum translates into investment and ultimately lasting change for the city and its surrounding areas. However, it is not measured by economic outcomes alone. Sustainability, both in social and environmental terms, is just as important of benchmarks in regeneration today. Clyde Gateway has delivered such outcomes in the past and with the new vision for Dalmarnock and Shawfield, will continue to do so moving forward.
Martin Joyce is Executive Director of Regeneration at Clyde Gateway
