Aberdeen-based commercial property developer Knight Property Group has awarded an £8 million contract to ISG Construction Limited for the redevelopment of Four North, St Andrew Square; formerly known as Edinburgh House.
Acquiring Edinburgh House in April 2016, Knight Property Group have bought into a prime location for both office and leisure use and is progressing with a transformational redevelopment of the property on a speculative basis.
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James Barrack, Managing Director at Knight Property Group comments, “St Andrew Square and the surrounding area have undergone some significant changes in the last 12 months, from the redevelopment of the Standard Life building to the commencment of the work on the new St James Quarter, and it is important that Four North follows suit.”
ISG Construction Limited will carry out an extensive refurbishment on the 8 storey property commencing late June, including the addition of an extra floor at roof level giving stunning views over the Square and to the North.
Upon completion, the Grade A building will be capable of accommodating up to 500 staff, and will benefit from open plan floor plates, car parking, bike storage facilities, lockers and showering/changing facilities.
James Barrack continues, “At Knight we firmly believe in providing tenants with properties that fit their needs. Although Four North is within close proximity to all transport routes, there has been an increase in people walking, running and cycling to work. Bearing this in mind we are providing extensive cycle racks complemented by shower and locker facilities for staff. “
Knight Property Group’s recent redevelopment of The Capitol, a project valued in excess of £30million, was recognized by the British Council of Offices (BCO) as commercial workplace of the year within their region.
Cameron Stott at JLL comments, “James and the team at Knight Property Group have a certain expertise when it comes to bringing new life back into tired buildings.
As market demand increases, there is a lack of high specification office developments within the city centre, making Four North a great investment for Knight Property Group.
Situated in a prime city center location in close proximity to major retail destinations, the building is easily accessed from all transport links which is a massive selling point for potential tenants.”
Within the last 12 months St Andrew Square, and the surrounding areas, have benefited from major investment.
Neighboring site St James Quarter will see the 1970s shopping centre replaced with 850,000 sq ft of retail space, a luxury hotel, up to 150 new homes, 30 restaurants and a multi-screen cinema.
