David Telfer, 30th December 2008
THE Aberdeen Gateway Business Park in the city’s Wellington Road has gained its first major tenant.
National Oilwell Varco (NOV), which acquired Reed Hycalog earlier this year, is moving the NOV Reed Hycalog business from Tullos to the new £100million business park at Altens.
Developer Stockland Muir, a joint venture between Inverkeithing-based construction and property-investment group JW Muir and the UK arm of Australian property giant Stockland, held a soil-cutting ceremony yesterday to mark the start of construction of NOV Reed Hycalog’s new building.
NOV Reed Hycalog will be moving to the new £6million premises, being constructed by Muir, in October next year. The two-storey building will accommodate 84 staff and provide ancillary warehousing, associated parking and landscaping.
NOV Reed Hycalog, which has its headquarters in Houston and operates internationally as a drilling service and manufacturing company for the oil and gas industry, will have 33,470 square feet of offices and an additional 7,500sq ft of warehousing at the business park.
Senior representatives from Stockland Muir and Aberdeen Lord Provost Peter Stephen joined NOV Reed Hycalog president Robin Macmillan and other invited guests at the ceremony.
Mr Stephen said he was always pleased to be involved with anything that encouraged business in Aberdeen.
Mr Macmillan said the company was moving because its business was increasing and that more jobs would be created, although it was too early to say how many. He said the new offices would include training facilities for staff and clients from all over the world.
Aberdeen Gateway Business Park has outline planning consent for about 500,000sq ft of space. Full planning permission for an HQ building of 150,000-plus sq ft has been obtained for a position at the most prominent entrance into the site. Up to 10 other office buildings amounting to 300,000sq ft can also be accommodated.
JW Muir is family-owned and run and comprises Muir Construction, Muir Homes, Muir Timber Systems, Muir Leisure, Hermiston Securities and Muir Property Investments.
Stockland established a UK division following a merger with property company Halladale Group in May 2007. Its UK portfolio spans retail, commercial and mixed-use projects, with properties under management valued at more than £1billion and a development pipeline with an end value of £500million-plus.
Joint letting agents for the business park are Knight Frank and Cushman & Wakefield.
A few months ago Stockland Muir secured the first tenant for the 45-acre park, with the Driving Standards Agency obtaining 1.9 acres at £165,000 per acre on a 40-year lease to build a motorcycle testing centre.
It said there was strong interest in sites from three or four more possible tenants.