Green light for Stirling retail park - commercial mortgages

11 April 2008

In news that may interest those looking for commercial mortgages connected with retail sector property, a proposed £20 million retail park in Stirling has been granted planning permission.

The 75,000 sq ft scheme in the Raploch area of the town has been approved, enabling Glasgow-based developer Forrest Developments to push ahead subject to ministerial consent, reports Property Week.

Welcoming the news, Forrest Developments managing director Donald Stewart said the company had enjoyed considerable success with major shopping centre developments.

He added that the company was "committed to that [retail] business, committed to investing in the Scottish property market and investing in Scotland."

News of the go-ahead being given to the development may boost the prospects of similar permission being granted to a planned retail park in Elgin, near Inverness.

Last week Debenhams agreed terms with developers Elphinstone to become a key part of the development, Retail Bulletin reported.