Development manager Generate Land and owner Moreof Berryhill have unveiled their masterplan for the creation of a new 拢215 mln (EUR 265 mln) innovative low-carbon business park at Bridge of Don in Aberdeen.
Development manager Generate Land and owner Moreof Berryhill have unveiled their masterplan for the creation of a new 拢215 mln (EUR 265 mln) innovative low-carbon business park at Bridge of Don in Aberdeen.
Mountgrange Investment Management, the advisor to Moreof Berryhill Limited, said that the detailed masterplan has been approved and that negotiations with the first occupier at the park are at an advanced stage, with construction work set to begin in January of next year.
'The investment by Moreof shows its confidence in the continuing growth of the economy in the North East of Scotland,' the company said in a statement. It is also a response to increasing demand from Aberdeen's oil, gas and renewables companies for additional high quality space to expand, it added.
The site lies within Scotland's Energetica Corridor, a joint initiative involving Scottish Enterprise and Aberdeen City and Shire, aimed at becoming a major hub for the energy sector. The 100-acre site will accommodate over 1.5 millon sq ft (140,000 m2) of office, industrial and distribution space. There is already 拢15 mln of finance in place for the infrastructure needed for the first phase which will include a new access road to the A90.
Mountgrange Investment Management is a private real estate fund management business specialising in UK commercial property investment, development and asset management.
Generate Land is a mixed-use property development company formed by Chief Executive Tony Brooks and fellow director Dan Brooks.
