The developers of ABZ Business Park in Aberdeen have confirmed they will invest a further £11 million to speculatively build four more new office and warehouse facilities.
The facilities, totalling 81,000 sq ft, will help alleviate a chronic shortage of new-build workshops with associated Grade A office accommodation in Aberdeen, said business park owners ABZ Development Ltd (ABZ).
This significant investment is in addition to £4 million already committed on the speculative build of the two-storey 18,500 sq ft Cirrus office building. Balfour Beatty Plc were appointed by ABZ to construct this facility last November and with construction well underway the Cirrus Building will complete in July.
The Cirrus Building is situated on a prominent 1.18 acre plot and with a BREEAM “very good” environmental rating, it is expected to appeal to major oil and gas service companies, although the two floor building is suited to shared occupancy.
ABZ director Paul Stevenson said: “We opted for a very good BREEAM rating at Cirrus because we are conscious of the importance modern businesses place on environmental and energy efficiency. It is available on a sale or let basis and would appeal to a number of aspirational Aberdeen companies who are expanding their offering or require to upgrade from their current premises.”
The developers said the £15 million investment at the 54 acre site next to Aberdeen Airport highlights their confidence in the oil capital’s strong office and industrial sector.
Paul Stevenson added: “Aberdeen’s shortage of high specification business accommodation is restricted and potentially harmful to the continued economic growth of the city.
“Some developers have been a little hesitant when it comes to fully committing to speculative projects but with some occupiers requiring additional space immediately we are certain that this significant investment will result in these buildings being successfully let.
“We are confident that already well established companies will welcome the opportunity to relocate to ABZ and that new-entrants to the north east will see the benefits of being situated next to the airport and close to the new Aberdeen Western Peripheral Route.”
Once planning consent is approved, work on 5a and 5b International Avenue is expected to start in July and be completed within nine months, with the two other facilities at 7a and 7b International Avenue to quickly follow.
ABZ recently concluded a deal with Marriot International and IKEA-backed International Hospitality Holding to build a £15 million 200-bedroom Marriot Moxy Hotel which will be aimed at value-conscious tech-savvy visitors to the city.
It is the third hotel which has committed to opening at ABZ, following a deal with Dominvs Group who plan to build a 140-bedroom 4-star Crown Plaza and a 130-bedroom 3-star Holiday Inn Express.
