Unsupported browser

For a better experience please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Forth Ports assets slashed by £222 million

  • Comment

The value of Forth Ports’ property has been slashed, as the firm was forced to wipe millions off the value of its portfolio

The firm reported a £30.7 million pre-tax loss last year. Property consultants DTZ also wrote £222 million off the value of the port authority’s market assets to just £60 million, saying that 80 per cent of its land currently had no development value.

This downturn has also cast doubts over the £700 million development in Leith of nine urban villages on the coast, two of which were to feature a new cruise-liner terminal and visitor centre for the Royal Yacht Britannia, 1,900 residential units, 1,6000m² of retail, 99,000m² of office space and 19,000m² of leisure facilities, including five hotels.

Charles Hammond, chief executive of Forth Ports said that it would still be possible to realise a 30-year vision for Leith Docks, despite the short-term difficulties.

In early March, the AJ reported that Architecture + Design Scotland criticised Make’s proposals for Forth Ports’ headquarters building in Edinburgh.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.