Ashleigh Alba unveils £7m plan for property development growth

A WEST coast building firm is unveiling a £7 million expansion plan as it moves into developing properties in the leisure and retail sectors.

Dumfries-based Ashleigh Alba Group is launching four subsidiaries – leisure, partnerships, residential and retail – to carry out project work throughout central and southern Scotland.

Managing director Alex Steel hopes the new companies will emulate the success of his original Ashleigh Scotland building firm, which grew pre-tax profits by 8 per cent last year to £1.5m.

Steel has been encouraged to push ahead with his expansion plans after securing retail giant Tesco as the anchor tenant for his £1m retail “village” at Bonnybridge, near Falkirk, which is due to open next month.

Steel said: “Market conditions are tough but we believe there are still considerable opportunities out there to be explored. The expertise of our construction firm gives us a real market advantage as we will use our sister company, Ashleigh Building, to deliver all work in these new sectors.”

Steel is pressing ahead with his £1.5m Boydfield Gardens housing scheme in Prestwick and plans to launch developments in Ayrshire and Dumfries and Galloway later in the year.

He said the company is also in talks with two potential joint venture partners – one on the east coast and one in the west – about the possibility of developing commercial property and housing sites.