Knight Real Estate - Offices Development - Westhill and Altens, Knight Secures Key Sites for Development

Date: 27 Nov 2006

Knight Real Estate has acquired two areas of land in prime locations for development in the north-east's highly-competitive commercial property market.

The developer has secured a significant site in Westhill, totalling almost seven acres, in an area where land prices have recently been in excess of £500k per acre, plus a further site at Altens, for a combination of speculative and design and build opportunities.

The company plans to build a speculative business park on a 6.75-acre site at Arnhall Business Park, Phase 2, Westhill, which will offer up to 150,000sq ft of high quality office accommodation spread across a variety of buildings.

It is anticipated the development, capable of potentially housing up to 20 businesses, will start to provide space for letting in 2007.

Knight has also purchased a 10.95-acre site at Minto Drive, Altens. This is earmarked for bespoke design and build developments. Talks are currently under way with a number of Aberdeen concerns interested in the site.

These acquisitions represent an investment of £7million by Knight.

"We are constantly on the lookout for development opportunities and, as our track record shows, we are pretty good at finding them," said Knight Real Estate director Howard Crawshaw.

"We pride ourselves in providing tenants with flexible, efficient, value for money property options in prime locations. With the availability of land for commercial development in Aberdeen as limited as it is, we expect interest in these new sites to be extremely high."

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