| Knight Real Estate seals first lease deal at Kirkhill Commercial Park |
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Commercial property developer Knight Real Estate, a Chess Property Group plc company, has secured its first pre-let on its flagship development site at Kirkhill Commercial park in Dyce. It is to develop an office, workshop and yard complex over a four-acre site, in a 20-year lease agreement with an established oil service support company.Knight Real Estate purchased the fully-serviced, 15-acre commercial park on Dyce Avenue from Norwich Property Trust Ltd in 2007 to offer bespoke and speculative opportunities. The new development will comprise 10,000sq ft of office space, 20,000sq ft of workshop accommodation and a yard nearly 120,000sq ft in size. The identity of the tenant is not yet being disclosed. The development is due for completion late in 2008, and Knight Real Estate Director Howard Crawshaw said: "We're pleased to be providing a property solution that meets key commercial needs in the modern business environment - quality space in a quality location, with great transport links". "The deal vindicates our decision to add Kirkhill Commercial Park to our portfolio as part of our long-term strategy to maintain our stock at a consistently high level and make land available in prime locations". " There's already significant interest from other parties in taking space at the park and we expect to announce further deals in the weeks ahead. Joint letting agents for the location are Graham & Sibbald and Ryden.
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