Property development specialist Hargreaves Land has entered into a joint venture with the Grandhome Trust to develop a new neighbourhood retail centre as part of the major residential scheme in the Bridge of Don.

The new commercial phase is set to provide a broad range of retail, leisure and community amenities in a town centre setting that will not only benefit Grandhome residents but also those living in the surrounding Bridge of Don area.

Real estate consultant Ryden, which is retained as agent for the development, acted on behalf of the Grandhome Trust in brokering the joint venture deal which is expected to see around £20m invested in creating a top-quality district centre with high street brands expected to show considerable interest in the location.

Glasgow architect Cooper Cromer has been appointed by Hargreaves Land as the lead architect for the retail phase.

David Anderson, group property director at Hargreaves Land, said the announcement heralds an exciting new phase of development.

He added: “This is fantastic news, and we look forward to working with the Grandhome Trust to help deliver a range of new amenities to the Bridge of Don. It also marks a significant multi-million-pound investment that will only add to Grandhome’s appeal; creating new jobs, boosting the local economy and unlocking more of the site’s long term potential.

“With our expertise in commercial development, we will be working hard to bring this latest phase forward as swiftly as possible, marking another chapter of positive change for the Bridge of Don and the wider region.”

Bruce Smith, trustee and spokesperson for the Grandhome Trust, said: “Since the first new families moved to Grandhome in 2018 the community has continued to grow at pace and to welcome more and more happy residents.

“In keeping with our long-held aspiration to deliver an exemplary new community we have always aimed to deliver a high quality retail offering and amenities to serve both the new residents and the wider population of Bridge of Don, and we’re pleased to be working with Hargreaves to achieve this.

“As well as providing amenities for the new residents it will highlight Grandhome’s place as an important new neighbourhood in the future of the city and a great place to live, work and invest.

“We’re looking forward to seeing the finished results.”

The first shops and amenities could open for business as early as 2024 with plans in the pipeline for more development as Grandhome continues to grow and expand over the next decade. 220 households have moved to the community since 2016 and are set to benefit from the new facilities. More than 4,500 homes are planned over the next 20 or more years as developers look to continue to grow the community on Scotland’s North East coast.