Michelin Scotland Innovation Parc - Dundee

Joint venture greenfield development with Michelin, specialising in electric vehicles (EV).

The new home of green trailblazers in Dundee. Michelin Scotland Innovation Parc (MSIP) is an ambitious joint venture between Dundee City Council, Michelin, and Scottish Enterprise to support low carbon innovation.

Industrial spaces and facilities on this world-class centre will drive the Scottish economy and support global sustainability and R&D. Existing buildings are being transformed, now with further space available for greenfield developments.

Value £25 million

Sustainable mobility and low carbon energy

Flexible investment

Located in Dundee

More on the Michelin Scotland Innovation Parc website

Michelin Scotland Innovation Parc (MSIP) involves the repurposing of an existing factory of 70,000 sq m and the creation of a new 20,000 sq m development/investor proposition to form an Innovation Parc. This is an industrial regeneration project focused on sustainable mobility and low carbon energy.

The MSIP project is being promoted by a public-private joint venture partnership called Michelin Scotland Innovation Parc Ltd. whose partners are Michelin, Scottish Enterprise and Dundee City Council.

The site includes the existing Michelin Tyre Factory and the intention is to re-purpose the buildings and complex to form the bulk of the Innovation Parc (with selective demolitions and additions).

The 'Green Space' is within the site and is currently used as recreational open space. However, it is proposed to work towards developing 10 'high spec' buildings of c.2000 sq m each to accommodate potential end users and occupiers who want to be associated with the Innovation Parc, but either do not wish or are not able to be accommodated within the existing buildings.

Investment opportunities

£25 million is being sought initially to be invested in the 'Green Space' – an area identified for new Class 4 (Business) and Class 5 (General Industrial) sustainable buildings to accommodate end users and occupiers who wish to co-locate with other sustainable mobility and low carbon businesses, but who cannot or do not wish to use the existing retained Michelin buildings.

Flexible debt and equity investment is being sought to help develop the 'Green Space'. This is an early stage investment opportunity and a partnership approach is anticipated.

More on the Michelin Scotland Innovation Parc website

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