Housebuilder Manor Lane has bought a 37-acre site near Bellshill in Lanarkshire to develop a residential site of around 500 homes.
The developer bought the former Clydesdale Steel Works site from Banks Property Developments for £29m.
The site, which sits between Bellshill and Mossend, has already been given outline planning consent by North Lanarkshire Council for a residential development of apartments and houses.
Manor Lane is already in the process of building several residential developments in the Lanarkshire area.
HJ Banks has spent the past year decontaminating, providing drainage and landscaping the site, in order for construction to commence later this year with the first occupation of homes expected by summer 2008.
Colin Anderson, regional director at HJ Banks, said, ‘The Clydesdale Steelworks formed an important part of Lanarkshire’s heritage for many years but the site has been lying in a state of disrepair for some years. The planning permission will enable Manor Lane to develop a thriving new community in an area that was once only home to industry.’
Knight Frank advised Banks Property.