Scottish businessmen Sandy and James Easdale have acquired a residential development site in an upmarket Renfrewshire village.
The brothers, who own bus firm McGill’s Group and a growing commercial property portfolio, have taken over the Balrossie site in Kilmacolm for an undisclosed sum. It is understood the site, which has planning permission from Inverclyde Council for 64 homes, will have a development value of more than £20 million once construction is complete.
Balrossie was originally built in 1899 by the Sailor’s Orphans Society of Scotland. Spanning approximately 30.6 acres of land, it has lain vacant since 2004 and fallen into disrepair.
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Sandy Easdale said: “We are thrilled to have the opportunity to take forward the Balrossie site and bring it back to life. Our vision is to create a high-quality residential community that respects the heritage of the site while providing much-needed housing for the area. This is a long-term project that will revitalise the site and create lasting value for the community.
“Kilmacolm is known for its scenic beauty and strong sense of community and by creating new housing, we aim to enhance what is already a fantastic place to live.”
The acquisition adds to the Easdale family’s growing portfolio of residential and commercial developments in Scotland. These include 850 homes being built on 130 acres at the former Tullis Russell papermill in Glenrothes, and the rejuvenation of the 70-acre former IBM site in Greenock, which has planning consent for 450 homes. Work is also under way on 81 new family homes at the former St Michael’s Primary School site in Dumbarton.
Sandy Easdale added: “We take pride in regenerating sites across Scotland and Balrossie is a perfect example of a place that can add real value to Kilmacolm with the right vision. We are committed to delivering homes that are built to the highest standards, ensuring that they complement the unique character of the village.
“The acquisition represents another key milestone in our ongoing investment and growth strategy across Scotland. We are committed to creating developments that not only provide a new future for landmark sites but also drive forward economic and social regeneration.”
Alan Stewart at Breck Property Consultants acted on behalf of the purchaser. Balrossie was marketed for the vendor by Knight Frank.
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