Commercial Property News

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Friday, June 02, 2023

Knight Real Estate acquires CapRock Communications site for 4m development

Proactive property developer Knight Real Estate Ltd has completed a deal to purchase a site to build a new headquarters building for satellite communications company, CapRock Communications. The 4m development involves land acquisition, demolition of one existing building and a new build office facility which will then be leased back to CapRock.

The project comprises the acquisition of CapRock's two existing buildings at Denmore Road, Bridge of Don in Aberdeen. CapRock will remain on site during the project and the lease on the building has been re-geared. The other building will be demolished and replaced with a 14,000sq ft 2-storey office block and CapRock has taken a 20 year lease over the facilities.

Howard Crawshaw, director of Knight commented, "We are delighted to be working with CapRock to provide a turnkey solution to their requirements for a new UK headquarters building. Having identified that their existing site was in the perfect location and had the available space to accommodate the company it was then up to Knight to make these plans a reality. We have been able to facilitate the purchase of both buildings, redeveloping one to suit and leasing both back on a 20-year term."

Architects and planning supervisors, Space Solutions has designed the new building which will offer high specification office and storage facilities for the growing satellite communications company.

Ian Ford, managing director of UK operations for CapRock, said, "We are in no doubt that once complete, our new facility including office and Network Operations Centre will improve our capabilities and provide an impressive platform to develop our UK operations further."

The site has been cleared and the new steel structure is being erected, to be ready for occupation in November 2006.

Simpson Buglass of Graham & Sibbald, Chartered Surveyors is representing CapRock on this project.