Scotland business

Aberdeen business park set for £11m investment

Units to be built at Aberdeen Business Park Image copyright other
Image caption Work on the new facilities at ABZ Business Park is expected to start in July

The developers of ABZ Business Park in Aberdeen are to invest £11m on a speculative build of four new office and warehouse units.

ABZ Development said the facilities would help alleviate a shortage of new-build workshops with associated offices in Aberdeen.

The investment is on top of £4m already committed to the construction of an 18,500 sq ft office building.

Work on the first two units is expected to start in July.

Construction should be completed within nine months, after which work on the other two new facilities will start.

ABZ said the £15m investment at the 54-acre site next to Aberdeen Airport highlighted its confidence in the oil capital's strong office and industrial sector.

'Significant investment'

ABZ director Paul Stevenson said Aberdeen's shortage of high specification business accommodation was "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."

ABZ recently concluded a deal with Marriot International and Ikea-backed International Hospitality Holding to build a £15m 200-bedroom Marriot Moxy Hotel at the business park.

It is the third hotel which has committed to opening at ABZ. The Dominvs Group plans to build a 140-bedroom, four-star Crown Plaza and a 130-bedroom, three-star Holiday Inn Express.

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