Commercial Property News

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Tuesday, April 17, 2023

Knight Frank sells Stonehaven site on behalf of Tesco

Acting on behalf of supermarket giant Tesco, international property consultancy Knight Frank, has sold a 1.1 acre site in Stonehaven, Aberdeenshire for a new residential development.

The site has been acquired by local developer, Kirkwood Homes Limited, for a price in excess of 1m with planning permission granted for 42 private residential flats.

The land, located on Cowie Mill Road, forms part of the former Commodore Hotel site, on the edge of the town centre. The plot is ideally situated adjacent to Baird Park and in close proximity to the Beach. It also benefits from links to the A90 at the North end of the town and is close to recent residential development at Glenury distillery site.

Chris Ditchfield, Partner, Knight Frank said: "The land will make a desirable location for residential accommodation so we are not surprised at the price achieved given the booming North East property market".