By continuing to use the site you agree to our Privacy & Cookies policy

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

Close

Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Close

Forth Ports assets slashed by £222 million

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.

Have your say

You must sign in to make a comment.

The searchable digital buildings archive with drawings from more than 1,500 projects

AJ newsletters