Drum Property takes stake in re-shaped New Ingliston
The development dwarfs RBS’s Gogarburn HQ at foot of photo
Drum Property Group has taken an equity and management position in New Ingliston Limited which is behind plans to develop 200 acres of land close to Edinburgh airport.
Drum will take on the management of both the company and future development activity on behalf of the board which is chaired by former oil tycoon Sir Bill Gammell.
The 205-acre site – formerly marketed as ‘Edinburgh 205’ and part of the planned International Business Gateway – is widely regarded as one of the most strategically important economic development areas in Scotland.
As part of the company reorganisation, a new board has been appointed.
Graeme Bone, group managing director of Drum Property Group, and property industry veterans Alan Robertson and Eric Young, will join Sir Bill, Patrick Gammell, Sir Brian Ivory and Alistair Salvesen.
The board changes follow the recent retirement of Roddie Paterson after 26 years as managing director.
Mr Bone said: “This is a once-in-a-generation opportunity for Drum to deliver a development site that has the potential to play a fundamental role in Scotland’s economic recovery and ongoing development for decades to come.
“To have the support of such an inspiring and experienced board provides a unique platform to look at the site with a fresh perspective and energy as the country emerges from the challenges of lockdown.
“We have already started the process of productive engagement with local and national stakeholders in the private and public sectors, and we now look forward to building momentum and advancing our vision for what could be a transformational development for west Edinburgh.”