A number of big brands have already earmarked sites in Dundee Waterfront, which stretches for 8km along the north bank of the River Tay. The City Council’s director of development Mike Galloway says hospitality businesses now have a ‘once-in-a-lifetime opportunity’ to capitalise on the rapid growth of Scotland’s fourth largest city.
“The dramatic growth in visitor numbers over the next decade will create significant demand for much-needed new accommodation, restaurants, bars, retail and allied businesses,” said Galloway. “We already estimate the city will need five hotels offering 100 beds each and are urging hotel operators to consider opening new ventures.”
Boutique hotel group Malmaison, casual dining outfit Nandos and prominent regional bar operator FullerThomson have all snapped up sites at the Waterfront and Dundee’s first five-star hotel The Custom House will open there in 2015 together with a new railway station hotel.
Gary Thomson, joint owner of FullerThomson, which operates three other venues in Dundee, said: “We are delighted with the opportunity for expansion that Dundee has presented. Our businesses have been thriving in during the last decade with Drouthy's on Perth Road doubling its turnover and Dukes Corner now one of the most popular night and outdoor venues offering events and a 7-day, all-hours food and drink service.
“And last year Jute Cafe Bar at Dundee Contemporary Arts Centre recorded its biggest sales growth. We would encourage other operators to take a fresh look at the city, which is on track to grow rapidly.”
Video: Dundee Waterfront
With over £500m already invested in the area, the Waterfront’s flagship project is the £45m ‘V&A at Dundee’ which is expected to attract an additional three million extra visitors and £1bn in tourism spend over a 10-year period. Over 9000 new jobs are forecast to be created when V&A opens in 2015.
A special hospitality industry investment hotline has been set up for any businesses interested in finding out more about investment opportunities in the Dundee Waterfront project. The number to call is 01382 433306.