Knight Real Estate - Industrial Development - Aberdeen, Knight Real Estate Buys Aberdeen Development Site

Date: 21 Sep 2007

Kirkhill Commercial Park in Dyce has changed hands following Knight Real Estate's (KRE) purchase of the 14-acre development site from Norwich Property Trust Ltd.

KRE has plans to build 160,000 sq ft of high quality industrial and office accommodation on a speculative basis and will also offer design and build options. A price in excess of £5m was paid for the land which sits close to the airport.

James Barrack, Group MD of KRE, a Chess Property Group Plc company, said:" This is a strategic purchase for KRE. We now have commercial development sites in Altens, Westhill and Dyce. With the industrial property market so buoyant at present we anticipate strong demand for the speculative units and are confident we shall secure a number of pre-lets in the forthcoming months".

King Sturge acted for Knight Real Estate in the acquisition of the site. Savills acted on behalf of Norwich Property Trust Ltd. Ryden and Graham & Sibbald are the retained marketing agents at Kirkhill.

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