14th April 2010 back to news

First Unit Let at Dundee Business Park

Graham + Sibbald have secured the first letting within Dundee’s premier Office Park, shortly after its official opening. 

Unit 3 Valentine Court at Gladman Developments, Dundee Business Park in Dunsinane Business Area, was leased to a private finance company based in West Yorkshire.  The 5 year Full Repairing and Insuring lease equates to an intial rent of circa. £14 per square foot.  
Dundee Business Park is a phased 140,000 ft.² office development in the Dunsinane business area – it has established itself as Dundee’s first genuine high quality Office Park comprising purpose-built high specification office pavilions in a range of units from 1,027 ft.² to 9,982 ft.², ensuring that the Development can cater for all sizes and types of organisation.    
Negotiations are ongoing with a number of local and national business occupiers, who have expressed strong interest in the remaining units within the recently completed first phase of the Development.  

A spokesman for the new tenant commented: “Gladman’s office units at Dundee Business Park provide a modern and flexible open-plan office space which we have found eminently suited to our requirement.  The location of the offices, in close proximity to the Kingsway outer ring road, provides us with an excellent strategic base from which to reach our customers in Dundee, Angus and, Perth & Kinross.
   
Local Property firm, Graham + Sibbald, Chartered Surveyors, brokered the letting on behalf of Gladman Developments.  Adam Hutcheson of Graham + Sibbald’s Commercial Agency team said: “This letting demonstrates that Dundee Business Park is satisfying modern business users’ needs by providing high quality, flexible office accommodation, which boasts an excellent strategic location.  We have been pleasantly surprised by the level of interest we have received in respect of the units, despite the recent gloomy economic conditions.  We expect 2010 will see the majority of the Phase 1 units sold or leased prior to Phase 2 commencing.