Glenboig Village development
Banks Property has decided to reduce its involvement in the Glenboig Village development, part of an area prioritised for new homes by the Scottish Government.
Colin Anderson, managing director of Banks Property, said: “Having been based in Lanarkshire for 25 years and counting, we are disappointed that we have had to make the decision to reduce our stake in this local development. We remain involved, albeit with a reduced landholding, and will continue to support North Lanarkshire Council to realise this important development. Our decision follows a full review of the project, which recognised the significant risks and uncertainties that still remain to be overcome over 10 years after we got involved in promoting the development.
The 1,040 homes earmarked for Glenboig are part of the Gartcosh and Glenboig Community Growth Area which is aiming to deliver 3,000 new homes in total. It is estimated this whole development will support approximately 2,500 constructions jobs and provide a boost of around £1 billion to the North Lanarkshire economy.