A proposal to create a hotel, restaurants and housing in Galashiels has moved forward after Scottish Borders Council completed the sale of the site.

The one hectare site at the former Burgh Yard will be purchased by Ramoyle Developments Limited, with the Stirling-based firm expected to submit a planning application for the project later this year.

Scottish Borders Council leader, Councillor David Parker, said: “I am delighted that the sale of the Burgh Yard has now been concluded and that the promise of a new hotel, restaurants and additional affordable housing is a step closer for Galashiels.

“Since the opening of the Borders Railway, there has been increased activity and investment in the Scottish Borders and recent positive tourism figures underline the potential that the railway can bring to our region.

“Over the next five years I expect further positive announcements and increased investment Borders-wide. In recent weeks, there have been positive job announcements in the private sector, with new distilleries on the horizon in Jedburgh and Hawick.

“Subject to planning permission, I look forward to this development enhancing facilities in Galashiels for visitors and the local community.”

Ramoyle is an experienced commercial property developer that specialises in mixed use developments of this type. It is currently working on a number of projects throughout Scotland including retail, hotel, serviced apartments, leisure facilities and family pub/restaurants.

Jim Turnbull, managing director of Ramoyle Developments, added: “We are pleased to have secured this significant opportunity at a very exciting time for Galashiels and indeed the Borders region.

“It adds to our currently expanding development programme and we look forward to the early completion of the mixed use project which we are sure will add materially to what is on offer in the town.”

Vice-chairman of Energise Galashiels, Bill White, said: “The re-development of the former Burgh Yard in Galashiels is another exciting milestone for the town.

“During recent months we have seen a number of projects coming to fruition, such as the Great Tapestry of Scotland, the development of a town centre Business Improvement District (BID) for Galashiels and announcements on a number of new employment and retail opportunities in the pipeline.

“Galashiels is a town full of potential. We are delighted that the message is getting out and that the future looks very bright.”

The Burgh Yard formerly housed a petrol station and associated garages and workshops before the new road – Braw Lads Brae – was created in 2010 as part of the Galashiels Inner Relief Road scheme.