Marine firm Shepherd Offshore have revealed plans to transform a mothballed factory in Scotland into a housing, hotel and industrial complex.
The Tyneside-based company completed the multi-million pound purchase of the unused microchip plant and former Hyundai factory, in Dunfermline, Fife, Scotland, in 2010.
Now the firm, fronted by ex-Newcastle United chairman Freddy Shepherd, have lodged plans with Fife Council in a bid to create as many as 450 homes on the site. And they have also revealed plans to use the one million square foot site for the creation of a college campus with adjoining industrial units and a possible hotel. Shepherd Offshore are currently in discussions with a number of high-tech companies in the renewable energy sector interested in making the site their home.
The multi-million pound development marks the next phase in the development of the Scottish factory which never began manufacturing because of the collapse of the global microchip market.
Mr Shepherd told The Journal: “These are exciting plans that will help boost the local economy and create jobs in Dunfermline.
“We have owned the site since 2010 when we added it to our operations on the North bank of the Tyne which has already created thousands of jobs. We look forward to this development bolstering our operations on Tyneside. It is a great opportunity to expand in the Scottish market.”
The Shepherds, based on Walker Riverside in Newcastle’s East End, have spent an undisclosed amount on the factory built in the late 1990s at a cost of around £200m, it has never opened due to the collapse of the global microchip market, which has been a source of much controversy north of the border.
Now, the Shepherds hope to finally bring the site to life after buying it from Freescale, a subsidiary of telecommunications firm Motorola.
A masterplan was submitted to Fife Council earlier this month with plans indicating up to 2,000 students could be accommodated at the new college campus.
Shepherd Offshore was granted planning permission in principle for the project last year but because it was contrary to policy they were forced to go through a departure hearing and three committees before being approved.