Dundee continues to bask in the limelight as the city's Waterfront development encourages developers, occupiers and investors not previously represented in Dundee to consider it as an exciting new opportunity. Aberdeen’s difficult market conditions have also led those formerly active in the Granite City to look to Dundee as a more cost effective option.
Measured against a background of limited take up of commercial development land in Dundee in recent years - as the city recovered from the impact of the recession and an overhang of supply - this new interest in Dundee is encouraging. It also appears to be having a positive impact on the wider Tayside and Angus areas.
As Aberdeen adjusts to a painful market correction, developers and investors are looking for opportunities in new markets, whilst occupiers, with a new found focus on cost saving and value, are also considering locations out with Aberdeen and Aberdeenshire, which remain high cost locations in comparison to Dundee, Tayside and Angus.
Aberdeenshire-based housebuilder Kirkwood Homes is an example of one such developer that was previously not active in Tayside but this year has turned its sights on the region. At the start of the year the firm announced it was looking to acquire two Dundee sites. It is currently in for planning for 45 residential units on the site of the former St Joseph’s RC Primary on Bellfield Street and is looking to secure planning for a second development in Broughty Ferry.
Orchardbank Business Park in Forfar, a commercial site being developed by Angus Council and Muir Group, is also appealing to occupiers looking for more cost effective premises.
Matthew Moggach, senior surveyor at Ryden, sole letting agent at the development, noted: “We have seen a marked increase in interest in the park from a range of occupiers, most notably from those not currently represented in the Angus or Tayside areas. These firms would further enhance the desirability of the Business Park and Forfar as whole. The recently submitted planning application for a 38-bed hotel at the park being a prime example.”
Orchardbank Business Park provides plots from 0.5 to 9.9 acres and is ideally located next to the A90 and within only 15 minutes’ drive of Dundee and 45 minutes of Aberdeen. Existing office and leisure operators include Angus Council, Astute (Scotland) Ltd, The Guide Dogs Scottish Training Centre, McDonalds, Marstons and KFC.
Marketing of Orchardbank Business Park has just been re-launched by Ryden, promoting the available space and highlighting the Park’s easy accessibility to Dundee and Aberdeen, as well as the various grant funding and business support options on offer to new occupiers.