SCOTLAND’S first artificial wave park is expected to open in 2024 after securing £26 million backing from the Scottish National Investment Bank.
The Wavegarden Scotland development of Craigpark Quarry at Ratho, near Edinburgh, will bring a 23-hectare country park and more than 100 jobs.
Its developers said Wavegarden Scotland will be and include a restaurant, retail outlet, surf school, wellness spa, café and surf observation deck.
The project will involve the installation of underwater technology that can create waves, from slow moving white water for beginners through to powerful barrels up to two metres high for experts.
Scottish National Investment Bank director Susan Campbell described the project as "exciting, innovative and ambitious".
She said: "The bank's backing will regenerate a derelict site, increase access to the natural environment, help to restore biodiversity and stimulate tourism.
"Once complete, Wavegarden Scotland will provide a world-class outdoor facility for everyone to enjoy, enabling important health and well-being benefits as well as a nationally important leisure facility."
Lender OakNorth Bank is supporting the construction of the new facility with a £25.2m loan.
Backing is also being provided by BAE Systems Pension Fund IM, which will purchase the park through a sale-and-lease-back arrangement once construction is complete.
Andy Hadden, founder of Tartan Leisure the company behind the project said: “Wavegarden Scotland will be a dynamic new leisure destination, whether you are in or out of the water.
“Having the backing of 45 local entrepreneurs and international shareholders, including Promenthean Investments LLP and Murray Capital, combined with the incredible support from the Scottish National Investment Bank, OakNorth and BAE Systems Pension Fund, has created what we believe, is the optimum financial structure for this landmark destination.”
Lothians MSP Sue Webber said: “I’ve been proud to support the Wavegarden project, first as a local councillor for the area since 2017 and as now as an MSP.
“Bringing a world-class outdoor facility like this to Ratho will be an exciting asset to the community along with jobs and a genuine economic boost to the region.”
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