Gleniffer Estates plc in partnership with Walker Group has announced the acquisition of a 6.14 acre site to develop into a £30m Neighbourhood Centre in the heart of Newton Mearns.

Greenlaw Village, which will be developed in five phases, will feature retail, leisure and health centre accommodation located on a prominent site immediately to the east of junction 4 of the M77.

The purchase and the funding for the first phase of the development was provided by Clydesdale Bank's Glasgow Financial Solutions Centre (FSC).

The first tenant, Tesco Express has already signed up for a 4,000 sq ft unit in phase one of Greenlaw Village which will feature a retail parade, a stand-alone restaurant and public square with an alfresco dining area.

Several tenants have already been signed up for the 18,500 sq ft retail parade and will be announced over the coming months. Various retail and restaurant units are still available for lease and range in size from 1,000 to 7,000 sq ft.

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Marshall Construction have been appointed as lead contractor, with construction due to complete on 1st March 2010.

Bryan Wilson, Managing Director of Glasgow-based Gleniffer Estates, paid tribute to Walker Group and funders Clydesdale Bank for their help in getting Greenlaw Village off the ground.

He said: "I would like to thank both Walker Group and Clydesdale Bank for having the vision to embark on this project in the current economic climate. I would also like to thank East Renfrewshire Council and Elphinstone for their support during the initial design and planning process.

"Greenlaw Village will provide important local services to people in the Newton Mearns area and those using the M77 and will also create a significant number of jobs in both the hard-hit construction and retail sectors."

Mike Walker, Chairman of Walker Group, added: "We are delighted to be in partnership with Gleniffer Estates plc on this exciting development and are pleased to have a big name like Tesco on board at this stage - and we look forward to making a number of exciting announcements in the months ahead."

Future phases of the development are likely to include an 8,000 sq ft health centre and a 7,000 sq ft pub/restaurant. DTZ has been appointed selling agents.

The site of Greenlaw Village was originally owned by a consortium led by Elphinstone who sold it to Gleniffer Estates plc for an undisclosed sum.

(GK/JM)