PLANS have been revealed for a £500 million Montrose development.
The Zero Four site is considered to have “strong potential” for the renewables sector as well as leisure, conference and retail facilities. Plans also include a heli-port.
Planning permission already exists for a mixed-use business park but the scheme has been given a boost with the announcement of Crown Estate Scotland’s acquisition of the 123-acre site from Isla Developments for £3.7m.
Crown Estate Scotland – which manages Scotland’s seabed and just under half the foreshore – said the deal forms part of the organisation’s long-term plans to invest in renewable energy and expansion of the blue economy.
Andy Wells, Crown Estate Scotland director of property, said: “The site holds a great deal of potential and will allow us to build on the strong partnerships we already have in the marine energy and ports sectors.
“This would be good news at any time, but is especially welcome now as we look to kick-start economic recovery following the response to the Covid-19 pandemic, this offers a fantastic chance to bring major investment to Montrose and the wider north east region.”
Roseanna Cunningham MSP, cabinet secretary for the environment, climate Change and land reform, said: “The Scottish Government is committed to ending Scotland’s contribution to climate change and securing a sustainable future.
“Crown Estate Scotland’s purchase of the Montrose Zero Four project exemplifies that focus, marking a further major investment that will contribute to long term, sustainable economic development for generations to come and help support a green recovery from the Covid-19 pandemic.”