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News Release

Glasgow

Stirling Development Agency welcomes Keep Scotland Beautiful and Forth Valley GIS to Castle Business Park, Stirling


NR6619 Castle1.jpgGlasgow, 7 May 2013 - Valad Europe’s 50/50 joint venture with Stirling Council, Stirling Development Agency (“SDA”), has agreed new leases with Keep Scotland Beautiful and Forth Valley GIS at Castle Business Park.

Keep Scotland Beautiful, the environmental charity, has relocated its headquarters to 8,000 sq ft of space on the first floor of Strathallan House on a five year lease at a headline rent of £13.50 per sq ft. The charity campaigns for a clean and tidy country, as well as focussing on issues around climate change, sustainable development and community engagement. Strathallan House provides a versatile two-storey office pavilion with a double-height reception area.

Computer mapping firm, Forth Valley GIS, has agreed a 10-year lease on 4,500 sq ft of space on the first floor of Glendevon House at a headline rent of £13.50 per sq ft. The company uses advanced location technology to develop business solutions around environmental assessment, facility planning, vehicle routing and land and property management.

Castle Business Park is located less than a mile from Stirling city centre, in the heart of central Scotland, providing excellent access to Scotland’s main cities and other provincial centres with the M9 motorway less than two minutes’ drive away. The Scottish Environment Protection Agency and the Forestry Commission already occupy office space at the Park.

Colin McGhee, at Jones Lang LaSalle, said: “The high quality of existing occupiers from both the public and private sectors already in situ at Castle Business Park made this location an appealing one for both Keep Scotland Beautiful and Forth Valley GIS.”

Andy Richardson, Valad Europe’s Head of UK Development, commented: “These latest lettings highlight the quality of Castle Business Park as a destination for local businesses and charities that are looking for convenient access to the major urban areas in Scotland. More than half of Scotland’s population is estimated to live within a one hour drive of Stirling, with around eight in ten living within two hours.”

Mike Irvine, at Montagu Evans, Edinburgh, said: “The high quality of the available accommodation at the Park combined with the its key strategic location and the landlord’s ability to tailor deals to suit specific tenant needs, makes Castle Business Park an obvious choice for businesses which are considering relocation or acquiring new space within the central belt.”

Montagu Evans and Jones Lang LaSalle advised SDA on the transaction.

With teams in Edinburgh, London, Leeds and Scarborough, Valad Europe’s UK real estate team of 80 people manages £1.2 billion of investment assets and more than £250 million of development projects in the UK, comprising 240 properties and 1,400 tenants.