Talking to the Kingsholm crowd before Saturday's Zurich Premiership game against Leeds on Saturday, Walkinshaw guaranteed that a new 7,500 seated capacity stand, taking the capacity from 13,000 to more than 17,500, would be constructed this summer.
"As you all know we've been working on a grandstand development (opposite the Shed) at Kingsholm for some time now, and I'm delighted to be able to confirm that it will now go ahead this summer, in time for the new season," said Walkinshaw.
"We have been working non-stop in the last few days to get to the stage where we can press the green button.
"The new £8 million stand will have more than 7,500 seats, taking our capacity to more than 17,500, making us the biggest solus club rugby union ground in the Premiership, and one of the biggest in Europe. The new development will take this club into an all-year round business."
Gloucester first moved to its Kingsholm ground in 1891 and the West Country location has become famous for its team and passionate supporters throughout the world.
"Kingsholm is the home of Gloucester Rugby Club, and will continue to be so. It means as much to everyone at the Club to stay here as it does to all of you," Walkinshaw said to the Kingsholm crowd.
Addressing the supporters, the Club chairman added: "You've all told us how much you want the ground to develop, and it's now going to happen.
"There is a lot of hard work that needs to go into making this a success, and we need your support throughout the next five months to achieve it.
"This decision has only just been made, and over the next few days and weeks we'll be announcing more information about the project, including a full breakdown of the facilities that will include the 7,500 seats, a new 1,500 capacity bar, a new shop, conference facilities, corporate boxes and more," stated the Club chairman.
The Club intends to announce details of season tickets for all areas of the ground, including the new stand, in time for the Saracens game on 30 April.
Gloucester Rugby Club will be announcing further details of the development throughout the course of the next few weeks.
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