Commercial Property News

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Friday, December 16, 2023

17.5m Business Centre plans in Dundee announced

An office complex planned for Dundee and valued at 17.5 million will mark the first development in Tayside for Tom Coakley, one of Scotland's leading commercial property developers.

The Coakley Business Park will also be the first office development in the City to offer accommodation for sale as well as lease. Planning permission is currently being sought to demolish the empty, previous headquarters of Low & Bonar situated on a 1.8 hectare (4.5 acres) site on Faraday Street by the city's ring road.

This will make way for four buildings which will provide 75,000 sq ft of attractive pavilion style offices. Fully occupied, the three and four-floor office buildings will house up to 700 employees.

Construction would create a further estimated 120 jobs during a phased building programme over two years. The intention is that, subject to planning permission, work would begin in spring 2006. The architect is Ian Burke Associates (Neil Rankin) and the letting agents are J & E Shepherd (Gerry McCluskey) and Jones Lang LaSalle (Craig Watson).

The offices will be built to an extremely high standard and will provide flexibility, allowing buyers or tenants to tailor the facilities, such as the communications infrastructure, to their particular needs. Parking will also include an underground element to allow attractive landscaping of the grounds.

Gerry McCluskey, partner with J & E Shepherd Commercial, commented:
"Coakley Business Park reflects the confidence in and commitment to the current Tayside commercial property scene and this has the potential to attract organisations to Dundee as there has been a lack of good quality office space of this type in the city.

"This is even rarer in that as an option the offices will be available for sale, either floor by floor or as complete buildings. In all other cases top class office accommodation in Dundee is only ever available for lease, hence this represents a unique opportunity for businesses wishing to purchase office property as an investment."