Evaluation of Strathclyde Business Park

Strathclyde Business Park (Developments) Ltd (SBP(D)Ltd) was part of a broad programme of improvement which aimed to address the lack of high quality industrial and business accommodation in Lanarkshire and improve the area's image as a business location. In particular, SBP(D)Ltd aimed to ensure the comprehensive development of Strathclyde Business Park and the development of a self-sustaining property market for Lanarkshire. The evaluation aimed to: appraise SBP(D) Ltd's progress towards its original objectives; look at the overall economic impact of the development of SBP; 'assess the management processes, economic development and financial performance of SBP(D) Ltd over the life of the project to date'; make comparisons with the experience of Lanarkshire Enterprise Zone (LEZ); and draw lessons relevant to continuing major property-based regeneration projects in the area.

The methodology consisted of: a desk-based assessment; consultation with key partner organisations, the property development industry, and other relevant bodies; an appraisal of the economy and property markets at local, regional and national level; and a business survey to establish and quantify the range of economic and business impacts experienced by establishments located on SBP.

Finds that SBP has performed well and achieved most of its original objectives. Its performance in terms of value for money exceeds that achieved on the LEZ. Notes that one of the original objectives not achieved was the complete development of the park. Completion of the remainder of the development of SBP is dependent on road infrastructure developments. SEL proposes that SEn's exit from SBP(D)Ltd should be extended by a further three years to enable this to proceed. In the absence of the SE loan facility, it is likely that development would proceed at a slower pace; and in the absence of SE involvement, the prospect of control over the nature and quality of Strathclyde Business Park would be diminished.

Suggests there would be strong economic development and financial benefits in deferring SEn's exit and retention of funds will enable planning constraints to the development of the remainder of SBP to be alleviated.