West Coast Estates, the Aberdeen-based property development and investment company, has acquired one of the largest consented commercial development opportunities in St Andrews.
Craigtoun Park, which has an estimated completed development value of approximately £25 million, comprises 60,000 sq ft of space on a seven acre mixed-use development.
The business park, which will feature a combination of fully-serviced retail, office, and business units, represents a rare development opportunity in the town.
It coincides with the building of about 1,250 homes in the surrounding area. It is estimated that the business park will create at least 170 permanent jobs.
Craigtoun Park is expected to attract leading operators within the consumer and business-to-business sectors, ensuring strong, long-term demand, while also providing modern, purpose-built spaces for local businesses. Discussions are progressing with several prospective occupiers, including a potential anchor.
West Coast Estates director, Iftikar Mian, said: “The completion of the acquisition of Craigtoun Park is a significant moment for West Coast Estates as we continue to expand our focus on breathing new life into brownfield and underutilised sites across Scotland.”
Former navy building for auction
Admiral’s House in North Queensferry, in the shadow of the Queensferry Crossing, is set to go under the hammer at Shepherd Commercial Property Auctions on 20 August with a guide price of £300,000.
Known locally as ‘St Margarets Hope’ and ‘Admiralty House’ the building is a dilapidated ‘B’ listed part single and part two-storey structure.
It was built in 1829 and re-modelled circa 1916 and remained the residence of the Rosyth Naval Commander until 1996, when it was handed over to the Scottish Executive.
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