Castle Business Park in Stirling has achieved full occupancy with a spate of recent lettings, prompting a new stage of development activity.
Its joint venture partners, Scarborough Development Group and Stirling council, concluded lettings to Forth Valley Health Board, the Scottish Environmental Protection Agency and Lex Vehicle Leasing last month totalling over 16,000 sq ft.
Respective leases of 15 years, 11 years and 12 years were achieved on the deals at £14.50 per sq ft.
The developer now wants to commence further development of 64,000 sq ft in March, following the gaining of planning consent last week.
Discussions are also concluding on a design & build contract for an HQ building
Scarborough development director for Scotland and Northern Ireland, Andy Richardson, stated: “There is a critical mass about the park and we are now seeing parties building HQs there, rather than simply occupying on a floor by floor basis.
“We have a potential prelet on one of the plots and a forward commitment on a design & build basis.
“These are for HQ buildings, which is a slight departure for us.
“Between existing consents, we are close to having 100,000 sq ft of developments on site this year.”
Montagu Evans and Stirling Ventures acted for the landlords. DTZ acted for Lex, Ryden for Forth Valley Health Board, and C&WH&B acted for SEPA.
- Scarborough recently concluded a 20,000 sq ft prelet to construction group, HBG, on its Buchanan Gate Business Park in Stepps, north east of Glasgow and is due to start a 20,000 sq ft speculative project there imminently.
References: EGi News 09/02/06
