A report being presented to the full council this week outlines a series of development plans for sites on the Borders Innovation Park – a repositioning of the current industrial estate. The first tender for the innovation park was issued last month (link opens in new tab).
The Tweedbank sites include the recently purchased Lowood Estate. Councillor Mark Rowley, executive member for business and economic development, said that by acquiring Lowood Estate the council now controls a vital site that has significant development potential for both the public and private sector. It also has potential for associated employment benefits and the delivery of a large number of homes.
The multi-use development of parts of Lowood Estate, acquired for £9.6m, could create an estimated 179 new jobs as well as 173 construction jobs said the council.
The Tweedbank Masterplan identifies the potential for new residential and business space development on Lowood Estate, as part of a wider Tweedbank expansion proposal. This would seek to attract existing and new residents and businesses moving into the area, including those who would wish to use the nearby Borders Railway as a key transport mode.
Rowley said: “There are a series of opportunities for significant development on some key sites in Tweedbank, with many of those well progressed. This will be carried out and funded by the council, a range of partners including Scottish Enterprise and the Scottish Government, and the private sector.”