Property and urban regeneration specialist Sigma Capital has received planning permission 'in principle' from West Lothian Council, Scotland, for the £1bn Winchburgh development near Edinburgh.
Sigma signed a £1.8m five-year management contract with Regenco Trading in March 2012 and will now submit detailed planning applications for the first phase of residential development, which covers 177 new homes.
On behalf of Regenco Trading, Sigma has already signed contracts with Barratt Homes and Miller Homes for the delivery of the first phase.
Sigma CEO Graham Barnet said that the granting of planning permission by West Lothian Council for the Winchburgh plan unlocks the development of this substantial site.
"We are delighted to have reached this landmark and will be supporting the next stage, which involves the early delivery of 177 new homes," Barnet said.Site preparation works are expected to start in August 2012, subject to detailed planning consent.
The residential and mixed-use development covers 350ha of land and includes the construction of 3,500 new homes, five new schools, a town centre, town park, retail facilities and a commercial park.
The development also features associated rail and road infrastructure, including a new motorway junction, train station and park and ride facilities.
The planning and design process of the project started ten years ago, but consent will signal the beginning of the development phase, which is planned to be implemented over the next 15-20 years.
Image: The residential and mixed use development covers 350ha of land and includes the construction of 3,500 new homes. Photo: courtesy Winchburghfuture.