Miller Cromdale To Maintain Momentum With Double Build Aberdeen
Thursday, 15 January 2009
MILLER Cromdale, the joint venture between Miller Developments and Cromdale Ltd, has begun work on 51,400 square feet of premium office space in Aberdeen city centre.
The group is aiming to capitalise on the continuing demand in the Aberdeen office market where grade-A office supply is hovering around its lowest level for a number of years.
Miller Cromdale has started work on the speculative development of 31,012 sq ft at Freedom House, a prominent four-storey building on Old Ford Road with a semi-circular tower fronting onto the North Esplanade and overlooking the River Dee.
Also being planned is Pilgrim House, a 20,384 sq ft, three-storey pavilion that will sit adjacent to Freedom House.
Practical completion of Freedom House is expected in Summer 2009 and there is already strong interest in the building. This development is a further enhancement of the new business district where Miller Cromdale have already completed Bridge View, Consort House and Admiral Court. In addition, the completion of the £250 million Union Square development in Autumn 2009 will ensure that there are numerous retail and leisure facilities for the occupiers of Freedom House to take advantage of.
Securing planning permission for the two buildings, which will offer flexible, open-plan accommodation, continues Miller Cromdale's momentum in the Granite City. In August 2008, Miller Cromdale obtained consent for a 222,000 sq ft development, Ardent House, on a two-acre site at Aberdeen harbour close to the city centre.
Pamela Grant, director at Miller Developments, said the planned developments showed the company's ongoing commitment to the overall regeneration of the area and the drive to create a strong business district in the Aberdeen's harbour location.
Ms Grant, said: "The area is undergoing regeneration, and we're looking to play our part in that, while at the same time, helping establish it as an area for companies to move into and do business from.
"Supply of premium office space in the city centre is at its lowest level for a few years and with just a few other schemes due to complete over the next two years, Freedom House and Pilgrim House will keep the supply momentum going."
Martin Callan, a director at Aberdeen-based Cromdale Ltd, said: "This will be our fourth and fifth developments in the harbour area, which we believe has enormous potential as a growing business district."
Notes to editors:
Miller Cromdale is a joint venture partnership between Miller Developments and Aberdeen based developer Cromdale Ltd. Miller Cromdale has been active in Aberdeen for over seven years and projects undertaken during that time include:
- the redevelopment and sale of Johnstone House, 51,000 sq ft of office accommodation;
- the redevelopment of Bridge View, a prominent 84,000 sq ft office building;
- the development of Admiral Court, 38,000 sq ft of office accommodation;
- the development and sale of Consort House, 78,000 sq ft office building;
Miller Cromdale also acquired Riverside Business Park, Aberdeen, for £2.54 million from ING Real Estate. Riverside Business Park, located on North Esplanade West, totals 18,439 sq ft and includes a two-storey office pavilion and two blocks of industrial units comprising 17 separate units. The business park is fully let.