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Roxhill Signs £30m Deal at Inverness Business Park
Roxhill Signs £30m Deal at Inverness Business Park
Development Expected to Create Over 700 Jobs in Seven Years
Leading UK industrial development company Roxhill Developments has signed a seven-year agreement with Inverness Airport Business Park (IABP) to develop over 400,000 sq ft of the business park at Inverness Airport.
The deal, one of the most significant private sector investments in the Highland economy in recent years, is expected to create around 700 jobs in seven years leading to over 1,200 in the next decade.
Warwickshire-based Roxhill expects to spend over £30 million developing Phase 1. The firm
is now looking to secure occupiers for the 30-acre site, which is zoned for a hotel as well as mixed office, industrial and warehouse buildings.
Roxhill Executive Chairman David Keir is a well known and respected figure in the UK property sector. He believes the site is attractive to freight, logistics and warehousing companies: “This is one of our most significant investments to date and we look forward to developing at Inverness Airport Business Park. Inverness is a fast growing city, yet it has a real shortage of industrial space. We look forward to making early announcements.
“I would certainly hope to see infrastructure work underway before the end of this year, with businesses open on site in 2012.”
IABP is the result of a joint venture between Highlands and Islands Airports, Moray Estates and Highlands and Islands Enterprise, with support from Highland Council. It will work in partnership with Roxhill while continuing to market future phases of the 250Ha site.
Inverness Airport Business Park forms part of the A96 Growth Corridor, which links Inverness and Nairn and also includes the proposed new town of Tornagrain. The corridor is expected to accommodate around 30,000 people in the next 30 to 40 years.
Alan Price, Chairman of IABP, said: “Today’s announcement is hugely significant for the economic development of the Highlands and Islands. We are confident Roxhill will attract large occupiers to the business park, meaning jobs and investment for the area.
“The board of IABP now looks forward to working in partnership with Roxhill as it develops phase one of the site in accordance with the design guidelines we have set.”
IABP is confident that the business park will provide employment for over 1,200 people in the next ten years and several thousand in the long term. In the immediate future the infrastructure works and Phase 1 development will provide much needed jobs and investment for the local construction sector.
Martin Johnson, Area Manager at HIE Inner Moray Firth, said: "This is a significant development for the economy of the Inner Moray Firth, bringing 30 acres of new land into economic use in Phase 1. The fact this is being led and developed by the private sector, on the back of investments by the public sector on access roads and enabling infrastructure, shows that business confidence in this region remains strong.
Inverness Airport Business Park is going to be a key strategic site for years to come, in terms of developing the economy of the surrounding area. HIE expects that this will lead to business growth opportunities for local businesses as well as providing land and premises for new inward investment in the future."
Councillor Sandy Park, Convenor of Highland Council, said: “Highland Council welcomes this investment. It will bring significant employment opportunities which will go somewhere towards mitigating the loss of over 2,000 jobs at RAF Kinloss.
“The Inverness Airport Business Park is the one of the main strategic business growth locations for the Inverness area for the foreseeable future. Its development will support the growth of the city and Inner Moray Firth area.”
Gavin Robertson of Cargill Development Management, acting on behalf of Roxhill, said: “This deal signals the arrival of Inverness Airport Business Park and a huge boost for the Highland economy. The directors of Roxhill bring vast experience in industrial development as well as unrivalled contacts and a strong equity base.
“IABP is unique among business parks. It is extremely well connected, sitting beside an airport with well established links across the UK and alongside the region’s key trunk roads, the A9 and A96. And as a city Inverness has great appeal, with a capable workforce and access to a coveted lifestyle as the gateway to the Highlands and Islands.”
Historically, Roxhill’s directors have worked with a range of multinational companies, including all major retailers and third party logistics providers, as well as landowners in the public and private sector.
Roxhill has appointed Colliers International and Ryden as its commercial property agents for the scheme.
Ends
Notes to Editors
For more information on IABP visit www.iabp.co.uk
For more information on Roxhill visit www.roxhill.co.uk
For interviews and images, please contact:
Natalie Buxton at Weber Shandwick
T: 01463 716739
M: 07770 886934
nbuxton@webershandwick.com
Development Expected to Create Over 700 Jobs in Seven Years
Leading UK industrial development company Roxhill Developments has signed a seven-year agreement with Inverness Airport Business Park (IABP) to develop over 400,000 sq ft of the business park at Inverness Airport.
The deal, one of the most significant private sector investments in the Highland economy in recent years, is expected to create around 700 jobs in seven years leading to over 1,200 in the next decade.
Warwickshire-based Roxhill expects to spend over £30 million developing Phase 1. The firm
is now looking to secure occupiers for the 30-acre site, which is zoned for a hotel as well as mixed office, industrial and warehouse buildings.
Roxhill Executive Chairman David Keir is a well known and respected figure in the UK property sector. He believes the site is attractive to freight, logistics and warehousing companies: “This is one of our most significant investments to date and we look forward to developing at Inverness Airport Business Park. Inverness is a fast growing city, yet it has a real shortage of industrial space. We look forward to making early announcements.
“I would certainly hope to see infrastructure work underway before the end of this year, with businesses open on site in 2012.”
IABP is the result of a joint venture between Highlands and Islands Airports, Moray Estates and Highlands and Islands Enterprise, with support from Highland Council. It will work in partnership with Roxhill while continuing to market future phases of the 250Ha site.
Inverness Airport Business Park forms part of the A96 Growth Corridor, which links Inverness and Nairn and also includes the proposed new town of Tornagrain. The corridor is expected to accommodate around 30,000 people in the next 30 to 40 years.
Alan Price, Chairman of IABP, said: “Today’s announcement is hugely significant for the economic development of the Highlands and Islands. We are confident Roxhill will attract large occupiers to the business park, meaning jobs and investment for the area.
“The board of IABP now looks forward to working in partnership with Roxhill as it develops phase one of the site in accordance with the design guidelines we have set.”
IABP is confident that the business park will provide employment for over 1,200 people in the next ten years and several thousand in the long term. In the immediate future the infrastructure works and Phase 1 development will provide much needed jobs and investment for the local construction sector.
Martin Johnson, Area Manager at HIE Inner Moray Firth, said: "This is a significant development for the economy of the Inner Moray Firth, bringing 30 acres of new land into economic use in Phase 1. The fact this is being led and developed by the private sector, on the back of investments by the public sector on access roads and enabling infrastructure, shows that business confidence in this region remains strong.
Inverness Airport Business Park is going to be a key strategic site for years to come, in terms of developing the economy of the surrounding area. HIE expects that this will lead to business growth opportunities for local businesses as well as providing land and premises for new inward investment in the future."
Councillor Sandy Park, Convenor of Highland Council, said: “Highland Council welcomes this investment. It will bring significant employment opportunities which will go somewhere towards mitigating the loss of over 2,000 jobs at RAF Kinloss.
“The Inverness Airport Business Park is the one of the main strategic business growth locations for the Inverness area for the foreseeable future. Its development will support the growth of the city and Inner Moray Firth area.”
Gavin Robertson of Cargill Development Management, acting on behalf of Roxhill, said: “This deal signals the arrival of Inverness Airport Business Park and a huge boost for the Highland economy. The directors of Roxhill bring vast experience in industrial development as well as unrivalled contacts and a strong equity base.
“IABP is unique among business parks. It is extremely well connected, sitting beside an airport with well established links across the UK and alongside the region’s key trunk roads, the A9 and A96. And as a city Inverness has great appeal, with a capable workforce and access to a coveted lifestyle as the gateway to the Highlands and Islands.”
Historically, Roxhill’s directors have worked with a range of multinational companies, including all major retailers and third party logistics providers, as well as landowners in the public and private sector.
Roxhill has appointed Colliers International and Ryden as its commercial property agents for the scheme.
Ends
Notes to Editors
For more information on IABP visit www.iabp.co.uk
For more information on Roxhill visit www.roxhill.co.uk
For interviews and images, please contact:
Natalie Buxton at Weber Shandwick
T: 01463 716739
M: 07770 886934
nbuxton@webershandwick.com
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