Common use of WATERFRONT Clause in Contracts

WATERFRONT. The £1 billion Dundee Waterfront development - including the prestigious V&A Dundee visitor attraction - offers a substantial programme of construction employment across five major zones along the River Tay as incremental development of the overall project takes place over the next decade and beyond. Dundee Waterfront will also create a major boost to tourism for both Dundee and Angus with an estimated three million additional visitors to the area and £1billion of business and leisure tourism spending between 2015 and 202517.  Life Sciences and Digital Media Dundee is home to one of the UK's most dynamic life science clusters with 18% of Scotland's life science companies based in Dundee and 4,000 people employed locally in the sector 18. Dundee is also the location of one of Europe’s most accomplished hubs for computer games and mobile digital content development. Over 3,300 people in 350 businesses are currently employed in Tayside within the digital media and creative industries 19. The continuing development of life sciences and digital media/creative activities in the Dundee city region brings a strong likelihood of continuing employment opportunities for appropriately skilled people.  Dundee Renewables Renewable energy is an important part of the future for Dundee and the broader local economy, encompassing wind, marine and hydro energy, as well as bio, solar and geothermal energy. A growing number of businesses in Dundee and beyond are said to be either currently involved or are seeking to engage in the local renewables sector 20. The development of renewable energy in Dundee brings with it a variety of training needs and employment opportunities for the wider area.  Energy and Technology Recent developments in the energy and technology sectors in the north-east of Scotland have enabled employment diversification in Angus into engineering, oil and gas and pharmaceuticals. The College has developed a successful programme of customised training programmes designed to meet the requirements of these industries in and around Montrose and Aberdeen and further opportunities are expected in the future.  Food and Drink Angus is well-known for its high quality, specialist food and drink produce, serving both the local visitor market and the Scottish export market. Increased visitor numbers forecast for Scotland as a whole, and for the Dundee Waterfront development in particular, are expected to create employment opportunities in the food and drink sector, alongside the growing hotel and restaurant sector.  Productivity Dundee’s historically low level of labour productivity, in comparison to the three larger Scottish cities, sets a clear challenge to identify the causes of this productivity deficit and to devise and implement remedial actions. Such actions will require a partnership approach comprising providers of education working with private and public sector organisations.  Labour Market The combined Dundee and Angus area underperforms Scotland as a whole across a range of indicators including employment, qualifications and occupation; presenting a long-term challenge to all organisations with an influence on the labour market.  Oil Price Fluctuation Due to the combination of falling oil prices and increasing costs of production, it becomes less viable to explore and extract oil from the North Sea: • Xxxxx Xxxxx price has dropped from $115 in June 2014 to c $50 in January 2015 • The cost of producing the average barrel of oil in UK xxxxxx xxxx by 62% between 2011 and 2014 (source: Oil and Gas UK) • While 50 fields in 2013 produced oil (these figures include the gas equivalent) for less than £10 per barrel, 19 fields had operating costs above £30 per barrel - very close to the dollar price now reached.(source: Oil and Gas UK) • UK production has more than halved since 2004 (source: UK Oil and Gas) • While the rate of production decline slowed in 2013, the total cost of production rose 15% to £8.9bn, and was expected to reach £9.5bn in 2014 (source: UK Oil and Gas) Oil price increases are likely to result in a significant reduction in investment in the industry and the direct loss of employment in the sector in Scotland with most of the impact felt in the North East. There is also likely to be an impact on the Renewable Energy sector as energy produced by those means becomes less competitive against oil. (The renewables industry will be affected quite badly in the short to medium term: it will become less price competitive and hence there will be reduced demand for renewable energy and less investment in the industry - xxx.xxxxxxxxxxxxxxxxxxxx.xxx). The overall reduction in activity within the energy market is likely to have a noticeable impact on demand for training and employment within the engineering, renewables and other sectors that impacts directly on the College. Given the volatility in oil prices over relatively short periods of time, the overall impact is difficult to assess for the College.

WATERFRONT. The £1 billion Dundee Waterfront development - including the prestigious V&A Dundee visitor attraction - offers a substantial programme of construction employment across five major zones along the River Tay as incremental development of the overall project takes place over the next decade and beyond. Dundee Waterfront will also create a major boost to tourism for both Dundee and Angus with an estimated three million additional visitors to the area and £1billion of business and leisure tourism spending between 2015 2016 and 2025172025.  Life Sciences and Digital Media Dundee is home to one of the UK's most dynamic life science clusters with 18% of Scotland's life science companies based in Dundee and 4,000 people employed locally in the sector 18sector. Dundee is also the location of one of Europe’s most accomplished hubs for computer games and mobile digital content development. Over 3,300 people in 350 businesses are currently employed in Tayside within the digital media and creative industries 19industries. The continuing development of life sciences and digital media/creative activities in the Dundee city region brings a strong likelihood of continuing employment opportunities for appropriately skilled people.  Dundee Renewables renewables Renewable energy is an important part of the future for Dundee and the broader local economy, encompassing wind, marine and hydro energy, as well as bio, solar and geothermal energy. A growing number of businesses in Dundee and beyond are said to be either currently involved or are seeking to engage in the local renewables sector 20sector. The development of renewable energy in Dundee brings with it a variety of training needs and employment opportunities for the wider area.  Energy and Technology technology Recent developments in the energy and technology sectors in the north-east of Scotland have enabled employment diversification in Angus into engineering, oil and gas and pharmaceuticals. The College has developed a successful programme of customised training programmes designed to meet the requirements of these industries in and around Montrose and Aberdeen and further opportunities are expected in the future.  Food and Drink drink Angus is well-known for its high quality, specialist food and drink produce, produce serving both the local visitor market and the Scottish export market. Increased visitor numbers forecast for Scotland as a whole, whole and for the Dundee Waterfront development in particular, particular are expected to create employment opportunities in the food and drink sector, sector alongside the growing hotel and restaurant sector.  Productivity Dundee’s historically low level of labour productivity, productivity in comparison to the three larger Scottish cities, cities sets a clear challenge to identify the causes of this productivity deficit and to devise and implement remedial actions. Such actions will require a partnership approach comprising providers of education working with private and public sector organisations.  Labour Market market The combined Dundee and Angus area underperforms Scotland as a whole across a range of indicators including employment, qualifications and occupation; , presenting a long-term challenge to all organisations with an influence on the labour market.  Oil Price Fluctuation Due Dundee City Waterfront encompasses 240 hectares of development land stretching 8km along the River Tay. The £1 billion transformation is a strategic, forward-looking 30 year project (2001-2031) that will transform the City of Dundee into a world leading waterfront destination for visitors and businesses through the enhancement of its physical, economic and cultural assets. Infrastructure works are well advanced. The building of the new V&A Museum Of Design Dundee, international centre for design is due to be open in 2018. Hotels, businesses and retailers are already reaping the rewards of the ongoing city transformation while expectant of significant growth as a further 7,000+ jobs are created. The Wellgate Shopping Centre will undergo a £21m investment next year to include an eight screen cinema and food hall. In 2012, leisure visitors generated over £142 million in expenditure and business tourism generated over £55 million to the combination local economy and this is projected to rise significantly as the Waterfront project develops. Currently in the final stage of falling oil prices the infrastructure project (2001-2031), the city landscape is changing at a steady pace. Over half of the £1 billion investment has already been committed, many developments have been completed and increasing costs of productionmany are underway. The £1 billion Dundee waterfront project spans five focussed development zones, it becomes less viable which are strategically positioned in order to explore and extract oil benefit from the North Seaexisting city fabric and expertise. Individually each zone is important in the local economic outlook, together they are transformational. The five development zones are: • Xxxxx Xxxxx price has dropped from $115 Seabraes, The Central Waterfront, City Quay, Dundee Port and Riverside. Dundee is renowned for its expertise in June 2014 digital media and creative industries. More than 350 businesses in the sector, employing more than 3300 people, are currently based in Dundee and the surrounding area generating a combined annual turnover in excess of £185 million. The Seabraes zone is strategically positioned to c $50 in January 2015 • The cost of producing the average barrel of oil in UK xxxxxx xxxx by 62% between 2011 and 2014 (source: Oil and Gas UK) • While 50 fields in 2013 produced oil (these figures include the gas equivalent) for less than £10 per barrel, 19 fields had operating costs above £30 per barrel - very close build upon this reputation. A new pedestrian bridge is being created linking to the dollar price now reached.(source: Oil and Gas UK) • UK production has more than halved since 2004 (source: UK Oil and Gas) • While the rate of production decline slowed in 2013river, the total cost of production rose 15% to £8.9bn, and was expected to reach £9.5bn in 2014 (source: UK Oil and Gas) Oil price increases are likely to result in a significant reduction in investment in the industry University campus and the direct loss Creative Media District. A range of employment in premises sizes and pricing to suit companies from the sector in Scotland with most of the impact felt in the North Eastbasic start-ups to established businesses are available. There is Two sites have also likely to be an impact on the Renewable Energy sector as energy produced by those means becomes less competitive against oil. (The renewables industry will be affected quite badly in the short to medium term: it will become less price competitive and hence there will be reduced demand been earmarked for renewable energy and less investment in the industry - xxx.xxxxxxxxxxxxxxxxxxxx.xxx). The overall reduction in activity within the energy market is likely to have a noticeable impact on demand for training and employment within the engineering, renewables and other sectors that impacts directly on the College. Given the volatility in oil prices over relatively short periods of time, the overall impact is difficult to assess for the Collegeresidential development.

WATERFRONT. The £1 billion Dundee Waterfront development - including the prestigious V&A Dundee visitor attraction - offers a substantial programme of construction employment across five major zones along the River Tay as incremental development of the overall project takes place over the next decade and beyond. Dundee Waterfront will also create a major boost to tourism for both Dundee and Angus with an estimated three million additional visitors to the area and £1billion of business and leisure tourism spending between 2015 2016 and 2025172025.  • Life Sciences and Digital Media Dundee is home to one of the UK's most dynamic life science clusters with 18% of Scotland's life science companies based in Dundee and 4,000 people employed locally in the sector 18sector. Dundee is also the location of one of Europe’s most accomplished hubs for computer games and mobile digital content development. Over 3,300 people in 350 businesses are currently employed in Tayside within the digital media and creative industries 19industries. The continuing development of life sciences and digital media/creative activities in the Dundee city region brings a strong likelihood of continuing employment opportunities for appropriately skilled people.  • Dundee Renewables renewables Renewable energy is an important part of the future for Dundee and the broader local economy, encompassing wind, marine and hydro energy, as well as bio, solar and geothermal energy. A growing number of businesses in Dundee and beyond are said to be either currently involved or are seeking to engage in the local renewables sector 20sector. The development of renewable energy in Dundee brings with it a variety of training needs and employment opportunities for the wider area.  • Energy and Technology technology Recent developments in the energy and technology sectors in the north-east of Scotland have enabled employment diversification in Angus into engineering, oil and gas and pharmaceuticals. The College has developed a successful programme of customised training programmes designed to meet the requirements of these industries in and around Montrose and Aberdeen and further opportunities are expected in the future.  • Food and Drink drink Angus is well-known for its high quality, specialist food and drink produce, produce serving both the local visitor market and the Scottish export market. Increased visitor numbers forecast for Scotland as a whole, whole and for the Dundee Waterfront development in particular, particular are expected to create employment opportunities in the food and drink sector, sector alongside the growing hotel and restaurant sector.  • Productivity Dundee’s historically low level of labour productivity, productivity in comparison to the three larger Scottish cities, cities sets a clear challenge to identify the causes of this productivity deficit and to devise and implement remedial actions. Such actions will require a partnership approach comprising providers of education working with private and public sector organisations.  • Labour Market market The combined Dundee and Angus area underperforms Scotland as a whole across a range of indicators including employment, qualifications and occupation; , presenting a long-term challenge to all organisations with an influence on the labour market.  Oil Price Fluctuation Due Dundee City Waterfront encompasses 240 hectares of development land stretching 8km along the River Tay. The £1 billion transformation is a strategic, forward-looking 30 year project (2001-2031) that will transform the City of Dundee into a world leading waterfront destination for visitors and businesses through the enhancement of its physical, economic and cultural assets. Infrastructure works are well advanced. The building of the new V&A Museum Of Design Dundee, international centre for design is due to be open in 2018. Hotels, businesses and retailers are already reaping the rewards of the ongoing city transformation while expectant of significant growth as a further 7,000+ jobs are created. The Wellgate Shopping Centre will undergo a £21m investment next year to include an eight screen cinema and food hall. In 2012, leisure visitors generated over £142 million in expenditure and business tourism generated over £55 million to the combination local economy and this is projected to rise significantly as the Waterfront project develops. Currently in the final stage of falling oil prices the infrastructure project (2001-2031), the city landscape is changing at a steady pace. Over half of the £1 billion investment has already been committed, many developments have been completed and increasing costs of productionmany are underway. The £1 billion Dundee waterfront project spans five focussed development zones, it becomes less viable which are strategically positioned in order to explore and extract oil benefit from the North Seaexisting city fabric and expertise. Individually each zone is important in the local economic outlook, together they are transformational. The five development zones are: • Xxxxx Xxxxx price Seabraes, The Central Waterfront, City Quay, Dundee Port and Riverside. Dundee is renowned for its expertise in digital media and creative industries. More than 350 businesses in the sector, employing more than 3300 people, are currently based in Dundee and the surrounding area generating a combined annual turnover in excess of £185 million. The Seabraes zone is strategically positioned to build upon this reputation. A new pedestrian bridge is being created linking to the river, the University campus and the Creative Media District. A range of premises sizes and pricing to suit companies from the most basic start-ups to established businesses are available. Two sites have also been earmarked for residential development. The Central Waterfront is the focal point of the project which has dropped involved the demolition of bridge ramps, roads and buildings, which previously separated the city centre from $115 the waterfront. In their place, a new grid iron street pattern, green civic space and attractive boulevards will reconnect the city with the waterfront to produce a stunning space that will be dominated by the award-winning V&A Museum of Design Dundee. The V&A Museum of Design Dundee (due to be complete 2017) will be the only design museum outside of London and expect to attract visitor numbers in June 2014 excess of 275,000 annually. The rail station will be rebuilt to c $50 provide a modern arrival point with a 120 bed hotel operating above it. New hotels, commercial, leisure and residential outlets are required to support the expanding city and new development plots will be created. City Quay lies to the immediate east of the Central Waterfront, occupying 10.5 hectares incorporating a potential marina. 750 new homes and apartments and more than 20,000 square metres of commercial space, including almost 10,000 square metres of modern office space divided into two waterfront buildings – River Court and City Court – has been created in January 2015 • City Quay. The cost of producing the average barrel of oil Scottish Police’s forensic science headquarters are located in UK xxxxxx xxxx by 62% between 2011 City Court while a new business community is thriving in renovated historic jute warehouses. Further investment and 2014 (source: Oil and Gas UK) • While 50 fields in 2013 produced oil (these figures development opportunities include the gas equivalent) provision of support services for less than £10 per barrelthe adjacent Dundee Port activities, 19 fields had operating costs above £30 per barrel - very close to the dollar price now reached.(source: Oil and Gas UK) • UK production has more than halved since 2004 (source: UK Oil and Gas) • While the rate of production decline slowed in 2013, the total cost of production rose 15% to £8.9bnresidential accommodation, and was expected to reach £9.5bn in 2014 (source: UK Oil and Gas) Oil price increases are likely to result the creation of a marina in a significant reduction in investment former dock. The Port of Dundee is the most northerly port owned by Forth Ports and is one of the largest economic generators in the industry City of Dundee. The port is strategically located on the east coast of Scotland, midway between Aberdeen and the direct loss of employment in central belt, and lies on the sector in Scotland with most north side of the impact felt in sheltered Firth of Tay. The port has the capacity to handle a wide range of bulk, agricultural and forest products. It is Scotland’s main agricultural hub with over 250,000 tonnes of agricultural products moving through the port annually. The port provides inspection, repair and maintenance of jack-up and semi-submersible drilling rigs and support vessels for the North EastSea oil and gas industry. There is also likely to be an impact on the Renewable Energy sector The port has been identified as energy produced by those means becomes less competitive against oil. (The renewables industry will be affected quite badly in the short to medium term: it will become less price competitive and hence there will be reduced demand one of Scotland’s top locations for renewable energy manufacturing by Scottish Enterprise under the National Renewables Infrastructure Plan and less investment in the industry - xxx.xxxxxxxxxxxxxxxxxxxx.xxx). The overall reduction in activity is within the energy market is likely to have a noticeable impact on demand for training and employment within the engineering, renewables and other sectors that impacts directly on the College. Given the volatility in oil prices over relatively short periods of time, the overall impact is difficult to assess for the CollegeScottish Government’s Low Carbon Renewables East Enterprise Area.

WATERFRONT. The £1 billion Dundee Waterfront development - including the prestigious V&A Dundee visitor attraction - offers a substantial programme of construction employment across five major zones along the River Tay as incremental development of the overall project takes place over the next decade and beyond. Dundee Waterfront will also create a major boost to tourism for both Dundee and Angus with an estimated three million additional visitors to the area and £1billion of business and leisure tourism spending between 2015 and 2025172025 17.  • Life Sciences and Digital Media Dundee is home to one of the UK's most dynamic life science clusters with 18% of Scotland's life science companies based in Dundee and 4,000 people employed locally in the sector 18. Dundee is also the location of one of Europe’s most accomplished hubs for computer games and mobile digital content development. Over 3,300 people in 350 businesses are currently employed in Tayside within the digital media and creative industries 19. The continuing development of life sciences and digital media/creative activities in the Dundee city region brings a strong likelihood of continuing employment opportunities for appropriately skilled people.  • Dundee Renewables renewables Renewable energy is an important part of the future for Dundee and the broader local economy, encompassing wind, marine and hydro energy, as well as bio, solar and geothermal energy. A growing number of businesses in Dundee and beyond are said to be either currently involved or are seeking to engage in the local renewables sector 20sector20. The development of renewable energy in Dundee brings with it a variety of training needs and employment opportunities for the wider area.  • Energy and Technology technology Recent developments in the energy and technology sectors in the north-east of Scotland have enabled employment diversification in Angus into engineering, oil and gas and pharmaceuticals. The College has developed a successful programme of customised training programmes designed to meet the requirements of these industries in and around Montrose and Aberdeen and further opportunities are expected in the future.  Food and Drink Angus is well-known for its high quality, specialist food and drink produce, serving both the local visitor market and the Scottish export market. Increased visitor numbers forecast for Scotland as a whole, and for the Dundee Waterfront development in particular, are expected to create employment opportunities in the food and drink sector, alongside the growing hotel and restaurant sector.  Productivity Dundee’s historically low level of labour productivity, in comparison to the three larger Scottish cities, sets a clear challenge to identify the causes of this productivity deficit and to devise and implement remedial actions. Such actions will require a partnership approach comprising providers of education working with private and public sector organisations.  Labour Market The combined Dundee and Angus area underperforms Scotland as a whole across a range of indicators including employment, qualifications and occupation; presenting a long-term challenge to all organisations with an influence on the labour market.  Oil Price Fluctuation Due to the combination of falling oil prices and increasing costs of production, it becomes less viable to explore and extract oil from the North Sea: • Xxxxx Xxxxx price has dropped from $115 in June 2014 to c $50 in January 2015 • The cost of producing the average barrel of oil in UK xxxxxx xxxx by 62% between 2011 and 2014 (source: Oil and Gas UK) • While 50 fields in 2013 produced oil (these figures include the gas equivalent) for less than £10 per barrel, 19 fields had operating costs above £30 per barrel - very close to the dollar price now reached.(source: Oil and Gas UK) • UK production has more than halved since 2004 (source: UK Oil and Gas) • While the rate of production decline slowed in 2013, the total cost of production rose 15% to £8.9bn, and was expected to reach £9.5bn in 2014 (source: UK Oil and Gas) Oil price increases are likely to result in a significant reduction in investment in the industry and the direct loss of employment in the sector in Scotland with most of the impact felt in the North East. There is also likely to be an impact on the Renewable Energy sector as energy produced by those means becomes less competitive against oil. (The renewables industry will be affected quite badly in the short to medium term: it will become less price competitive and hence there will be reduced demand for renewable energy and less investment in the industry - xxx.xxxxxxxxxxxxxxxxxxxx.xxx). The overall reduction in activity within the energy market is likely to have a noticeable impact on demand for training and employment within the engineering, renewables and other sectors that impacts directly on the College. Given the volatility in oil prices over relatively short periods of time, the overall impact is difficult to assess for the College.