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The Herald Scotland
4 days ago
- Business
- The Herald Scotland
Plans for 950 new homes at landmark city site lodged
Summix Capital has submitted a planning application for a residential-led, mixed-use development at Edinburgh Gateway, the site of the former Saica packaging facility in west [[Edinburgh]]. The developer said it provides a "unique opportunity" to regenerate this former industrial location on Turnhouse Road, which covers 15.5 acres. The site from above. (Image: Summix) It said the brownfield site is allocated for residential-focused redevelopment in council policy. The firm said: "The flagship vibrant new neighbourhood aims to deliver a mix of uses. This includes the delivery of more than 950 homes, including 35 per cent affordable homes, plus a new hotel with over 170 bedrooms. "The housing proposed will include tenure blind affordable housing, addressing the city's well-publicised housing emergency, and including the provision of accessible family homes and Build to Rent accommodation. BTR sees homes built specifically for rent, rather than sale." READ MORE: It added: "A new network of streets and public spaces will integrate seamlessly with the surrounding area, creating inviting routes and meaningful connections for both existing and future residents." Stuart Black, development director for Summix Capital, said: "We are delighted to be submitting this planning application for Edinburgh Gateway, which represents a significant investment in the capital. "Our exciting proposals provide a unique opportunity to redevelop one of the last major pieces of brownfield land in the city into a brand-new, sustainable mixed-use community, supporting the tackling of the housing emergency. "This will ensure that Edinburgh Gateway fulfils our vision to be one of the most exciting and best-connected development sites in Scotland. "The planning application follows extensive engagement with the local community, and we would like to thank individuals for taking the time to provide highly valued comments and feedback." Spain-based paper and cardboard company Saica relocated to a purpose-built facility in Livingston. David Lonsdale Why is everybody jumping on the pre-loved bandwagon? With more Scots than ever before purchasing pre-loved products it seems that second-hand is no longer seen as second-best. Those are the findings from the Scottish Retail Consortium and Opinium's latest Consumer Sentiment Monitor. It shows the proportion of people who had either bought or sold second hand items – from sofas to smartphones – over the past year had surged across most categories of products measured. This growth is perhaps unsurprising, with online platforms and the prevalence of charity shops making buying and selling pre-loved items more accessible than ever. Our survey shows furniture witnessed the biggest growth, with the proportion of people buying or selling second-hand during the year rising 6% to 21%. This was closely followed by the growth in sales of smaller electronics such as phones and laptops, and then books and DVDs. MONEY HQ 💷 The modern costs of a comfortable retirement in Scotland This article appears as part of the Money HQ with Ben Stark newsletter.
The Herald Scotland
02-06-2025
- Business
- The Herald Scotland
Shoppers may feel more upbeat, but spending is still shy
Inflation has fallen markedly since those heady inflationary days in late 2022. Real wages have been growing for the past two years, whilst prices on shop shelves have actually being falling since August. Read more: Yet households continue to spend selectively - cutting back on non-essential items, trading down to cheaper products, with those who can afford to putting more into savings. Where consumers have opened their purses and wallets it's often been on experiences rather than in shops, such as on eating out or holidays. Better news for retailers came in our latest Consumer Sentiment Monitor which showed shoppers' confidence nudging up over recent months in tandem with the general pick-up in the UK economy, and as some of the US-China trade tensions began to cool. However, despite the welcome prospect of a possible détente in the global tariffs dispute domestic consumer confidence – and people's propensity to spend – remains below levels seen last year. The uptick can be seen in our retail sales data. Bolstered by the timing of Easter and better weather, retail sales in Scotland last month recorded their best performance in almost two years, positive news after a lengthy period of decidedly tepid sales growth. However, whether this better news will be short-lived or sustained remains to be seen. A key concern is overall inflation, at least in the near-term. Last month it rose to 3.5%, its highest level in a year and the jury's out on whether rising inflation has crested. If it sticks at about this level then it will reduce shoppers' spending power. Read more: Unfortunately, it is little surprise that inflation is once again rearing its head. After all, retailers and their suppliers have been thwacked by enormous hikes in employers' national insurance contributions and the national living wage. This will cost UK retailers alone £5 billion this year. On top of that a further £2bn of additional outlays is expected later this year as retailers implement the new extended producer responsibility packaging tax. The sheer weight of costs bearing down on the sector and its supply chain is proving impossible to fully absorb. With statutory costs continuing to rise for retailers, households may well have to brace for stickier elevated levels of inflation. Food prices in shops have risen to their highest level in twelve months, and are forecast to reach 5% towards the end of the year. Higher inflation isn't the only strain facing household finances. Wage rises too are likely to be tempered by the substantial additional costs employers face. Meanwhile, council taxes across Scotland leapt by 9.6% on average this April, taking a £280 million bite out of disposable incomes. Water and sewerage bills were hiked by 9.9%. Read more: There are other risks on the horizon. Scottish Ministers are exploring with councils the creation of more revenue generating powers, as well as wealth taxes. Presumably this would be on top of councils' existing ability to introduce workplace parking levies. Some councils are reportedly looking at congestion charging, whilst UK Ministers are said to be debating what tax increases could be implemented in this autumn's Budget. That said, governments have acted to help reduce the pressure on consumers. Recent trade deals with the EU and others should assist, as will Holyrood's decisions to abolish peak rail fares and pause plans for a levy on disposable cups. Scottish Ministers have pledged no further rises in income tax rates before next year's election, and no more divergence from tax rates applicable elsewhere in the UK. There is no route back to economic growth without getting inflation under control. Supporting retailers to keep prices down has to be a priority. David Lonsdale is the director of the Scottish Retail Consortium.
