Michelin Scotland Innovation Parc, Dundee
A 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 decarbonisation
-
Flexible investment
-
Located in Dundee
About the development
Michelin Scotland Innovation Parc (MSIP) involves the repurposing of an existing factory of 70,000 square metres and the creation of a new 20,000-square-metre development/investor proposition to form an Innovation Parc. This is an industrial regeneration project focused on sustainable mobility and decarbonisation.
MSIP is being developed and marketed by a public-private joint venture partnership, Michelin Scotland Innovation Parc Ltd., whose partners are Michelin, Scottish Enterprise and Dundee City Council.
The Innovation Parc incorporates the entire former Michelin Tyre Factory and the intention is to re-purpose the buildings and complex to form the Innovation Parc (with selective demolitions and additions).
The 'Green Space' is within the Innovation Parc and is currently used as recreational open space. However, it is proposed to work towards developing 10 'high spec' buildings of around 2000 square metres each. This is meant 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.
MSIP will also be a hub for learning and training in green transport. Scottish Enterprise has announced a plan to invest £2.1 million opens in a new window to deliver a Skills Academy and innovation labs on the site, with a curriculum provided by Dundee and Angus College.
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 decarbonisation businesses, but who cannot or do not wish to use the existing retained 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 opens in a new window
Alignment to the United Nation’s Sustainable Development Goals
The Green Investment Portfolio support the UN’s Sustainable Development Goals. The projects in the portfolio support the goals below:
Take a virtual tour
Explore MSIP in extended reality (XR) — take a digital tour of the facility:
Want to find out more about UK commercial property and investment opportunities?
If you have any questions or want to talk with one of our advisers, we're always ready to help.
Disclaimer
Whereas every effort has been made to ensure that the information in these pages is accurate, Scottish Enterprise and Scottish Development International does not accept any liability for errors, omissions or misleading statements. And no warranty is given, or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Investors will need to undertake their own due diligence in conjunction with individual project promoters/sponsors in relation to the detailed project investment opportunities presented.