Joint venture agreed for Winchburgh development

A joint venture between CALA Homes and West Coast Capital will see the construction of over 3,000 new homes in West Lothian.Private equity partnership West Coast Capital (WCC), the owner of Winchburgh Developments Limited (WDL) has made an agreement with CALA Homes to invest in the development and delivery of the overall masterplan across 347 hectares at Winchburgh, outside Edinburgh, with WDL being jointly owned.The joint venture, alongside a tripartite agreement between the Scottish Government, West Lothian Council and WDL, has secured the future of the development, which is to include a total of 3,450 new homes, new schools and a range of infrastructure including improved transport links, a new marina, a 75-acre district park and 35 acres of employment land.The agreement will now see WDL delivering the overall masterplan that will unlock sites up to a total of 3,450 homes for multiple housebuilders, with some 700 affordable houses and more than 400 for social rent.As part of the overarching agreement, West Lothian Council will build new state-of-the-art schools. The schools will be forward funded by the council with support from the Scottish Government. This will ultimately be paid for by housebuilders across West Lothian via receipts from the roof tax as housing is developed.The Building Scotland Fund is supporting WDL’s infrastructure investment by lending the joint venture £26.8 million towards the development on a secured and interest bearing basis.Phase one of Winchburgh saw private housebuilders Barratt Homes; Miller Homes; Bellway; Stewart Milne Homes and Taylor Wimpey active on site. West Lothian Council’s housing department and Wheatley Group, through its subsidiary West Lothian Housing Partnership, delivered an additional 96 affordable housing units for social rent.