“Smart money” is already moving into Dundee as investors move to snap up development opportunities along the waterfront, it has been claimed
The City Council is seeking operators for a a number of prime sites along the waterfront, which is undergoing a £1 billion redevelopment programme.
A number of these- including three of the main plots in the central waterfront – are already under offer.
A number of other development opportunities around the waterfront have also attracted interest, including a cafe and a retail unit that will be created within the redeveloped railway station.
Dundee City Council convener of city development Lynne Short said the “smart money” is now investing in Dundee thanks to the waterfront redevelopment and the opening of the £80.1 million V&A next year.
She said: “It’s absolutely amazing. I come from a property background so I know the value of what we’ve got.
“It’s just making sure the right people know what we’ve got on offer.
“There is a really big spotlight on the city and there is a lot of chatter about Dundee.
“The smart money is already moving in.”
The City Council is also seeking an operator for a new pavilion cafe which will be built in Slessor Gardens.
The local authority said the development would not prevent Slessor Gardens being used for any major outdoor events in the future.
Slessor Gardens hosted a trio of successful concerts this year with UB40, Little Mix and Olly Murs all headlining events.
The best attended concert – Little Mix – saw more than 11,000 fans cram into Slessor Gardens and promoters the Liz Hobbs Group, which represents acts including Rod Stewart and Tom Jones, has said it is keen to stage more gigs next year.
The new pavilion will have an outdoor seating area and has the potential to be licensed.
The length of the lease on the building is negotiable and could run from anywhere from one year to 25 years.
The pavilion will be situated at the south-western point of Slessor Gardens, adjacent to South Crichton Street.
A spokesman for the City Council said: “The pavilion will be sited where the electricity sub-station currently is and will be closed during major events.
“The tender process will be triggered and an operator will be identified in due course.”
Slessor Gardens is at the heart of the waterfront redevelopment.
More than 10,000 square metres in size, it was designed to offer a multi-functional space to host a variety of large scale events.
It has space for nine, smaller, themed gardens and was officially opened by the Queen in July 2016.
Ms Short, an SNP councillor for Maryfield, added she hoped a local business could take up the lease for the Slessor Gardens pavilion.
“It would be an amazing thing for one of our local business. It is an ideal opportunity,” she said.