4th March 2009

MACDONALD ESTATES

 EXAMINE POLAND

Strategic land and retail property developers, Macdonald Estates, are planning a major business drive in Scotland and considering a move into mainland Europe for the first time in the company’s ten year history.  The company is debt free and is in a good position to fund a number of strategic acquisitions in Scotland and overseas. Returning from a fact finding mission to Poland, Managing Director, Kevin Robertson, commented:  “Retail led and regenerative property development will continue to be our core activity in Scotland and possibly, for the first time in Poland.  There are a number of opportunities there and I know that Scotland and Poland share a special relationship.   I am very encouraged by my visit and look forward to examining more detail.  “Meanwhile our focus remains firmly in Scotland where we are now developing a large number of proposals, shortly to lodge as planning applications which we will progress throughout 2009 to maturity in 2010-2012.”

Macdonald Estates are currently negotiating terms on a £100m funding facility from a UK-based institution with access to sovereign funds.   This would be used as development funding for a number of current and scheduled planning applications. Three developments are currently being considered by the relevant planning authorities in Glasgow, Kirriemuir and Arbroath.  These have a combined development value of £53 million and if given the go ahead, up to 1000 new jobs will be created.  Next week, the company will announce detailed plans for further applications which regenerate a number of town centres by creating retail and mixed use developments, many with community facilities.   

Macdonald Estates are also investing heavily in architecturally rich design, drawing on many European influences for the creation of sustainable, environmentally sensitive new buildings.  Robertson continued: “We have a lot to learn from the Europeans, particularly Denmark and Scandinavia where leading edge design and sustainability is a matter of course.  Macdonald Estates will make a creative and sustainable contribution to our built environment this year and this will remain a key focus going forward.” Macdonald Estates was founded in 1998 and employs 17 people from its headquarters on Edinburgh’s George Street. 

Notes to editors   

·       In the Gallowgate in the East End of Glasgow, Macdonald Estates has submitted a planning application for a £20m regenerative scheme which will convert a disused brownfield site into a 50,000 sq ft food store and neighbouring new community facilities.  If the proposal goes ahead, 232 jobs will be created.

·       In Kirriemuir, plans for £25m food store and mixed use development will create 450 jobs if the council approve the plans currently being considered.

·       In Arbroath, Macdonald Estates have submitted plans for a 36,000 sq ft food store and non-food retail development valued at of £8m which if successful, will create 170 jobs.

Macdonald Estates is a Scottish based property development and investment company focused on real estate development in a variety of sectors including retail, hotel and leisure, business space, town centre regeneration and masterplan conception and delivery. Established in 1998, the company has since been recognised as 10th fastest growing amongst the top 200 Scottish companies; voted Property Developer of the Year; awarded ‘Retail Times’ number one most productive Retail Park 2007 for Limerick in Ireland.  Macdonald Estates is widely accepted as the leader in its field, having built approximately 2 million sq ft of property with an end value in excess of £200 million.   Dan Macdonald, Chief Executive was awarded ‘Most Outstanding Contribution to the Scottish Property Industry - 2006/2007 and was recently named as ‘Property Personality of the Year’ at the 2008 Scottish Property Awards.   A more detailed and comprehensive list of projects and history can be found at www.macdonaldestates.co.uk 

ENDS 

For further information, please contact

Dan Macdonald, Macdonald Estates, 0131 225 3232

Kirsten Speirs, KDMedia Ltd, 0131 337 6232 / 07810 43 42 04