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Developer Urban Splash is preferred partner to deliver a 拢70m development which is set to lead the regeneration of Irvine on the west coast of Scotland.

Irvine Bay Regeneration Company made the announcement at Mipim, as part of Scotland鈥檚 showcase of investment opportunities for property development.

A new community is planned with around 300 homes, many of them affordable, shops, leisure facilities and commercial workspaces on the 11 acre site at the harbourside of the former Scottish New Town.

Tom Bloxham, chairman of Urban Splash, said: 鈥淲e think the site has amazing potential given its location on the harbourside, the views out to the island of Arran and the beaches running north and south from the tip of the site.

鈥淏y focussing on quality architecture, creating a strong sense of place and by working in partnership with Irvine Bay and North Ayrshire Council, we can deliver a mixed-use scheme that will help transform Irvine into a great place where people will want to live and work.

鈥淏eing our first site in Scotland, the development is very special for us and hopefully will be the start of a very long term and successful business for Urban Splash in Scotland.鈥�

Once completed the development is expected to create around 160 permanent and part-time jobs.

Stewart Maxwell, minister for communities and sport, said: 鈥淭he Scottish government is absolutely committed to regeneration in our most disadvantaged communities, which is why we have supported the urban regeneration company from the outset.鈥�

This project is the first major development to be brought to the area by Irvine Bay Regeneration Company.

The firm, one of six URCs set up by the Scottish government, has an ambitious 10 year plan to breathe new life into the Ayrshire coastal towns of Irvine, Ardrossan, Saltcoats, Stevenston and the Abbey town of Kilwinning.