Planning permission in principle was granted to the Ambassador Group this week for the 54-hectare site off the M9 motorway, which occupies predominantly brownfield land and is the former headquarters of Prudential Insurance.

The application comprises proposals for new offices, retail space, residential accommodation, a 150-bedroom hotel, care home, nursery and leisure facilities, with access off the existing Craigforth roundabout.

The new Wolfcraig distillery will also form an integral part of the Craigforth campus, although this was not part of the application passed by the Panel yesterday. A separate application was agreed in October 2023 which allows an existing building on the north of the campus, Lomond View, to be used as a distillery.

The wider development will feature walking, cycling and jogging routes with public access to the riverside and the Craigforth Crag, around which the campus would be built.

Stirling Council leader, Cllr Chris Kane, said: “Craigforth is an iconic site, well known to the people of Stirling, particularly those who were employed by Prudential and Scottish Amicable in the past. This major development will allow future generations to form a relationship with one of the most scenic locations in the Stirling area.

“This is an ambitious and exciting proposal. It has the potential to make a significant contribution to the local economy, leading to the creation of important new businesses and employment opportunities, including the distillery at Lomond View.

“We also look forward to helping build sustainable and vibrant new communities and, as Stirling celebrates its 900th anniversary, adding to our tourist offering with a new hotel and leisure facilities.”

The Craigforth campus application includes plans for 135 new homes, with 33% earmarked for affordable housing.

A building warrant has already been approved for the demolition of the former Prudential Insurance HQ, which was constructed in the 1970s and is no longer considered fit for purpose.

The ‘B’ listed Craigforth House, a former stately home that dates from the early 18th century, will be redeveloped as part of the proposals, potentially for the new hotel.

The Panel received 17 representations in response to the proposals, 16 of which were objections.

The Planning Permission in Principal has been granted for a five-year period and is subject to a Section 75 agreement, which forms a contract between the developer and Stirling Council on funding for a range of facilities.

This includes, but is not limited to, play area provision, civic spaces and sports facilities, as well as financial contributions to household waste, healthcare and transport infrastructure.