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Interest shown in pioneering Moray initiative to ‘sponsor’ street names

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Businesses are believed to have signed up for a pioneering initiative in Moray which could lead to street names being sponsored.

Companies in the region have been offered the chance to buy the names of roads and landmarks that make up new housing developments.

The scheme, which is believed to be the first of its kind in Scotland, opens up the possibility for Glenfiddich Grove, Baxters Brae and Walkers Wynd.

When the offer was launched earlier this year, authority officials believed there would be “limited” use for it.

However, Moray Council has now confirmed there has been “interest” in the promotional opportunity and revealed an announcement would now be made in the new year.

The initial price offered to companies to sponsor a street was £20,000. Bridges could also be named under the plans.

Council leader George Alexander praised the initiative as an innovative way to raise extra cash for the authority, which has proposed £6million worth of savings in next year’s budget.

The council previously stated that the scheme was a way of raising “much needed revenue” in times of “financial constraint”.

The proposal was approved by the council’s planning and regulatory services committee earlier this year.

Mr Alexander said: “This is just another way of looking at what we have at our disposal and making the most out of it.

“At times like this we also need to be thinking outside of the box to come up with new ways that can generate extra revenue.”

More than 4,000 homes are due to be built in Elgin over the next 20 years, creating dozens of streets for firms to snap up.

The offer has only been made to locally based companies and will only be available on new roads to avoid the confusion of changing addresses.

Sponsored street names would have to comply with general rules already in place for naming roads across the region and be approved by councillors before becoming final.