Popular retailer, Home Bargains, has been confirmed as the first flagship occupier to secure space at a new multi-million-pound mixed-use business park in St Andrews.
West Coast Estates, the Aberdeen-based property development and investment company behind Craigtoun Park, has confirmed that the leading discount store will anchor the 7-acre mixed-use destination, which has a completed development value of approximately £25 million.
The business park has planning consent for more than 60,000 sq ft of commercial and employment space. It is expected to create at least 170 permanent jobs and 100 construction jobs, while giving the local community greater choice, boosting the local economy and generating over £500,000 pa. in business rates to support essential services.
West Coast Estates completed the acquisition of the site earlier this month. The business park will feature a combination of fully-serviced retail, office, and business units, allowing for a flexible mix of tenants to serve both the local community and visitors.
A spokesperson for Home Bargains said: “Craigtoun Park is an exciting opportunity for us, and we’re delighted to be announced as the first occupier at this fantastic development in St Andrews.”
Home Bargains currently has more than 600 stores across the UK, employing over 27,000 people, with the nearest store currently more than a 30-minute drive from St Andrews.
Iftikar Mian, Director at West Coast Estates, said: “Securing Home Bargains provides a major endorsement of the scheme and demonstrates the confidence national occupiers have in the development. Craigtoun Park will offer people a greater choice of amenities within easy reach while positively supporting the local economy.
“We are delighted to be working with Home Bargains as the business park progresses, and we look forward to announcing further occupiers in due course.”
Craigtoun Park is set in a naturally enclosed plot defined by mature landscaping, stone walls and established topography. Careful consideration has been given to ensure the development integrates seamlessly into the surrounding landscape. Larger plots will be naturally screened by existing trees, hedgerows and changes in level, while varied building forms, stepped rooflines and high-quality landscaping will help connect the development to its surroundings.
The development forms part of West Coast Estates’ wider strategy to bring forward brownfield sites, creating high-quality, flexible space for a range of occupiers. With an active development pipeline representing an estimated completed development value of more than £60 million, the company continues to progress projects that support economic growth, create jobs and unlock the potential of underutilised land across Scotland.
The company is active across Scotland, including projects to develop an ultra-fast electric vehicle charging hub and retail unit on 1.1 acres at Broxden in Perth, a roadside development of 3 acres in Huntly, Aberdeenshire, and a 7.5-acre mixed-use development in Aberdeen.
Mr Mian added: “Over the last 35 years we have focused on bringing brownfield sites back to life by creating places that support local communities and businesses for generations to come. The Craigtoun development builds on this track record and is a key step in our ongoing strategy to regenerate underutilised land and create sustainable local spaces. We are actively looking for, and assessing, sites across the country that have the potential to enhance the offering for local communities.”
Home Bargains is expected to be the first of several leading operators within the consumer and business services sector to be attracted to Craigtoun Park’s purpose-built spaces and discussions are progressing with prospective occupiers.
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