A new multi-million pound leisure and retail development, which will form part of the heart of the Clyde Gateway regeneration initiative near Glasgow, has been approved by South Lanarkshire Council (SLC).

Ashfield Land's plans for the 268,000sq ft (24,898sq m) Two74 Cambuslang Road mixed-use scheme include a nine-storey, 170-room hotel, a nine-screen cinema, restaurants and 50,000sq ft (4,645sq m) of sports retail space. The proposed £50m development will be built on a 7-hectare (17.3-acre) site at the heart of the Clyde Gateway site, adjacent to the route to the planned 2014 Glasgow Commonwealth Games Athletes' Village and Sir Chris Hoy Velodrome and situated close to junction two of the M74 motorway, which is currently being extended.

SLC leader Eddie McAvoy said: "The combination and mix of uses proposed for this major redevelopment are ones which, I believe, will benefit the wider area while acting as a catalyst for the future development of the Clyde Gateway. "Moreover, the proposal would further build on the aspirations of Clyde Gateway by providing a vibrant development and an associated architectural landmark to provide a lasting legacy for the area leading up to, and beyond, the Commonwealth Games."

The Clyde Gateway initiative, which aims to tackle the economic decline in east Glasgow and South Lanarkshire, comprises SLC, Glasgow City Council, Scottish Enterprise and the Scottish Government.