Completed in August 2022, Kildean Business Park is one of Scotland’s newest and greenest business parks and is a partnership between a joint venture comprising investor and fund manager Cromwell Property Group and local authority Stirling Council.
The 7,174-square-metre building was then sold for £22 million pounds to Aviva Investors.
The business park’s green credentials come thick and fast and include a BREEAM Excellent rating, and the building was prelet in January 2021 on a 20-year sole occupancy lease to global investment manager M&G.
Matthew Bird, head of United Kingdom, Cromwell, said “the building will incorporate a range of measures to ensure staff wellbeing and is designed to score highly against a number of key environmental and sustainability benchmarks.”
About the project: Kildean Business Park, Stirling, spans 20 acres and has excellent views of imposing Stirling Castle.
What the judges said: David Littlejohn, head of planning and development, Perth & Kinross Council, said the deal is an “excellent example of a public and private sector partnership to develop a high-quality commercial building in an off-centre location demonstrating the market in Scotland isn’t predicated on an Edinburgh, Glasgow or Aberdeen location”, while Howard Crawshaw, managing director, Knight Property Group, added “this is an important anchor and first deal for the park” and with the “quality of occupier and the specification achieved”.
They made it happen: Two Aviva directors, Daniel McHugh, real estate investments, and Darryl Murphy, head of infrastructure, expect the building they bought to make notable profits. Andy Cunningham, head of office agency for CBRE in Glasgow and Martyn Brown, capital markets director in Scotland also with CBRE.