Phase 2 Announced

Phase 2 Announced

Business Park Going From Strength to Strength

Momentum is continuing to build at Aberdeen’s Prime Four business park with news that another major oil operator and a blue chip hotelier have signed up for Phase 2 of the development. Premier Oil and De Vere Hotels are expected to locate 450 employees to the park when they assume tenancies by mid-2014 (subject to planning), bringing the total number of workers based at Prime Four up to 1650. 
 
Drum Property Group, Prime Four’s developers, will invest around £25 million in creating a state-of-the-art 70,000 sq ft UK North Sea base for Premier. This building, the first in Phase 2, will see Drum’s investment in Prime Four climb to over £125 million.
 
The four star Village Urban Resort for De Vere, will be the hotel group’s first Village Resort in Scotland and will cover an area of approximately 101,000 sq ft. De Vere has leased the site from Drum   and will be investing £25 million in developing the resort.
 
Detailed planning applications on behalf of Premier and Village have now been submitted and will be considered by Aberdeen City Council.
 
The two complexes will surround the ‘Fourcourt’ plaza, designed to be the park’s social hub. Development of the Fourcourt will see a wide range of additional amenities and services introduced to the park. 
 
A bespoke pre-school education and childcare facility for over 100 children called ‘Kingswellies Nursery’ is being planned for the summer of 2014. The innovative nursery has been designed in conjunction with the teaching staff, creating a unique educational environment, which will maximise the space and light of the countryside location. Further details on Kingswellies Nursery will be announced in the new year.
 
Other amenities will include landscaping which will integrate with Prime Four and link the local village of Kingswells with the ancient forest adjacent to the site, as well as other retail outlets and services. Planning applications for these amenities and the nursery will be submitted before the end of the year.
 
“We are obviously delighted that another global oil player together with a well established and prestigious hotel operator have chosen Prime Four as a business location,” commented Drum Managing Director Graeme Bone. 
 
“Premier Oil joins other key players in the energy industry at the park, and their arrival, combined with that of De Vere and the other planned facilities, emphasises Prime Four’s credentials as the world-class business environment in Aberdeen. The second phase of the park provides further critical mass for Prime Four, and we are looking forward to welcoming other significant tenants to the site as part of this phase of development in the near future.”
 
The De Vere Village Urban Resort will have 150 bedrooms, business and conferencing facilities, a Starbucks coffee outlet, restaurants, bars and a luxury health spa and leisure club, complete with a 25m swimming pool and gym. It is expected the hotel will open for business in the Spring of 2014. 
 
Robert B. Cook, CEO of De Vere Village Urban Resorts said: "Prime Four's position and its status as a major new energy hub, together with Aberdeen's ongoing economic resilience, meant that this was the ideal location for us to establish our first Village Resort in Scotland. This is a highly significant investment for the De Vere group and we are confident the facilities we will be providing will be attractive to both business visitors and leisure travellers and will also have plenty of appeal for local residents and the wider north east community. Personally as a local to Aberdeen I'm delighted to be back operating in a city close to my heart, on what is a world class development.”
 
 
Premier Oil will take residence in their bespoke offices by mid-2014, and will join other oil majors Apache, Nexen and Transocean at Prime Four, enhancing the park’s growing reputation as the business destination of choice for the energy industry. 
 
Mike Skitmore, UK Business Unit Manager of Premier Oil said, "We are building a substantial business in the North Sea. Production is expected to increase from around 12,000 boepd today to 20,000 in 2013 and we are continuing to add to our North Sea portfolio through licence rounds, successful exploration and acquisitions.  Meanwhile, the next generation of North Sea projects – Solan and Catcher – will underpin our medium term Corporate production target of 100,000boepd.  As a result of this significant increase in activity, Premier has outgrown its offices in the West End of Aberdeen and Prime Four represents the ideal environment and location from which we can manage this ongoing growth in our operations.”
 
 
The first phase of construction at the park began in July 2012, and is on schedule with Apache, Nexen and Transocean expected to take residence from October 2013. Economic consultants have estimated that Phase 1 alone, when fully operational, will sustain around 1,200 jobs and be worth £300 million a year to the local economy. 
 
Drum is also committed to enhancing access to the area, and is funding a £6 million major local road improvement programme as part of the development, which will be completed in the summer of 2013. The company is also contributing just over £1million to the local area Strategic Transport Fund.
 
Prime Four occupies a highly strategic location adjacent to the Aberdeen Western Peripheral Route and the existing park and ride facility.
 
11/12/2012

Sales & Letting

Ryden, Arron Finnie

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