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Wednesday, March 12, 2024

Knight Frank market John Smith Business Park in Kirkcaldy

Knight Frank, the marketing agents for John Smith Business Park in Kirkcaldy, announces the next stage of development at the park as work starts on a new 23,500 sq ft office development which forms part of a 3.15 million investment project by Fife Council with support from Scottish Enterprise Fife.

Knight Frank has been appointed to market the business park on behalf of Fife Council who has provided the majority of the funding for the project at 2.75 million with the remainder invested from Scottish Enterprise Fife. The new office premises will be the third development on the park with the first two buildings having both been sold to MGt plc.

John Smith Business Park extends to approximately 60 acres and is earmarked for a major mixed-use development to include leisure and high quality office accommodation. The business park is adjacent to the successful Fife Retail Park, home to household names such as Sainsburys, Boots, Next and Homebase.

The council has awarded the contract for the new office development to Dundee based construction company Muirfield Contracts Ltd which is likely to be completed early next year.

Nadir Khan-Juhoor, partner, Knight Frank said: "We're pleased to announce the further development of 23,500 sq ft of new office accommodation at John Smith Business Park, which shows a significant investment in Fife and underpins the confidence in the local business community. The existing commitment by MGt is great news for the business park and indicates that there is high demand for good quality accommodation in this area of Scotland. With a winning location and a great range of services and opportunities offered by the park, the new office development is sure to be a success generating strong levels of interest at both a regional and national level."

Councillor Tony Martin said: "Bringing new jobs to Mid Fife is a priority for us and John Smith Business Park has a tremendously important role to play in making that happen. We're investing here to provide high quality business space in a high quality environment. It's exactly what companies, particularly in the growing business and financial sectors, expect and I'm confident that we will deliver a first class development."

"The Council's investment in both infrastructure and the first office buildings has been essential to get development started at John Smith Business Park but the private sector is now keen to get involved and we're in discussions with a number of potential investors. There's also a significant amount of land to the east of the Business Park which will be developed for housing. This whole area is going to be a real focus for development over the next few years."

Joe Noble, operations director, Scottish Enterprise Fife said: "The initial phases of John Smith Business Park have been extremely successful and the area continues to be of strategic importance to the Central Fife economy. We are delighted to continue our support for this latest stage of development which will undoubtedly enhance the area's provision of high quality office space that is of a standard and size required by some of Scotland's key priority industries."