It is to lease office, workshop and yard facilities to Denholm Oilfield Services Ltd at the Altens park - and expects to announce a series of lettings at the location over the next few months.

The deal, on a 15-year lease, involves the construction of 4,500sq of office space and 10,000sq ft of workshop premises.   The development, due for completion in November this year, also features 16,000sq ft of concrete yard space.

Knight Real Estate announced late last year its plans to create the new commercial park to help address the lack  of industrial space in the region.   The speculative development offers sites for properties upwards of 10,000sq ft in size.

Director Howard Crawshaw said: "It's great news that we've secured this deal with a significant energy services company like Denholm to relocate its activities to this location in support of its business growth objectives.

"We shall be announcing further deals in the coming months, signifying both the diverse benefits offered by this location and the continuing demand locally for new space for development."

Knight Real Estate was represented by Graham & Sibbald and Denholm by Paul Gee & Co.