A partnership between Historic Scotland (HS) and the National Trust for Scotland (NTS) is to see a new, £5m visitor centre at the site of the 14th century battle of Bannockburn being built in time for the next year of Homecoming in 2014.

Early estimates of the economic impact of both the Commonwealth Games and the Ryder Cup being held in Scotland in the same year, indicate a 30 percent increase in visitors to the new centre, lifting it from 65,000 to 85,000 annually, with 100,000 expected in the first year.

Launching the scheme, culture minister Fiona Hyslop said: "This project will deliver a world class visitor attraction with a immersive digital experience that will give visitors a real flavour of the battle.

"We believe it will set new standards for Scotland's tourism industry, generate significant additional income for the local economy and increase visitor numbers."

Kate Mavor, chief executive of the NTS said: "Bannockburn is one of Scotland's most significant sites and we want to ensure that everyone understands this place's part in the development of the nation."

HS and the NTS are now developing proposals for the project, including a fresh interpretation of the battle and the site using new digital media, facilities for visitors, landscape and car parking improvements and the conservation of the listed monuments and their setting.

The next stage will be the approval of the interpretation plan, scheduled for January 2011.