100 BRISTOL BUSINESS PARK
In December 2016 Abstract acquired from DuPont, this 7.3 acre site at the entrance to Bristol Business Park. Planning consent was obtained in August 2017 for a three phase office development of approximately 200,000 sq. ft. including approximately 8,000 sq.ft. of retail/leisure uses and 600 car parking spaces.
Phase 1, which will provide approximately 86,000 sq. ft. of Grade A offices over five floors, with 240 car spaces has been pre-let to Babcock Integrated Technology Ltd with completion scheduled for May 2019. The investment has been sold to Aviva Investors’ Lime Property Fund for £30.06m.
Phase 2 will also provide 86,000 sq. ft. of Grade A offices with Phase 3 providing 17,350 sq.ft. of Grade A offices together with 8,000 sq.ft. of retail/leisure space.
ABERDEEN INTERNATIONAL BUSINESS PARK
Fornebuporten UK AS, a subsidiary of Norwegian investment company Aker ASA, has joined with Abstract to develop a one million sq ft Business Park on one of the most prominent sites in Aberdeen known as Aberdeen International Business Park (AIBP).
The 40 acre site occupies the premier out of town office location, strategically situated opposite the entrance to Aberdeen International Airport and with direct access onto the Airport Link Road (ALR), completed in 2016
Accessibility will be transformed with the Aberdeen Western Peripheral Route (AWPR), scheduled to complete in winter 2017/2018 which will connect to the ALR.
Fast road links to the Scottish motorway network allow access to Edinburgh and Glasgow within two and a half hours’ drive.
The site is being developed as a fully master planned Business Park and will accommodate up to one million sq ft of proposed development within a beautifully landscaped energy efficient environment.
THE FLORENCE BUILDING
The Florence Building is a brand new 5-storey 60,535 sq ft office development in the heart of Basingstoke, Hampshire. It represents the fourth in a series of speculative office buildings developed and equity financed by Abstract.
With flexible internal floorplates The Florence Building will offer the lowest cost per workstation for a new office building in the South East.. The design targets an EPC A rating and BREEAM Excellent 2014, with low operating costs through the use of highly sustainable technologies. The building is designed for occupancy of 1:8m² with capacity to increase to 1:6m².
The interior will be finished to a full Cat A standard including air-conditioning, suspended metal ceilings, lighting and raised floors. A contemporary reception area will feature a double-height glazed atrium space.
The site will additionally provide secure parking for 203 cars, 24 electric vehicle fast-charging points and 48 secure and covered cycle spaces.
ST VINCENT PLAZA
St Vincent Plaza in Glasgow is a new Grade A office building which is let to occupiers including KPMG, Whyte & Mackay, Wood Group, Mott MacDonald, Registers of Scotland and Zurich Insurance. There are two floors remaining comprising 26,910 sq ft.
In Oct 2017, in one of the largest investment transactions in Scotland in recent years, a vehicle associated with private investment firm Starwood Capital Group, acquired the entire share capital of the Abstract subsidiary which owns St Vincent Plaza.
In line with Abstract’s philosophy for ‘uncompromising value’ St Vincent Plaza has been designed to provide top-quality, city-centre office accommodation at highly competitive rents. Having been designed to accommodate an occupational density of up to one person per 6 sqm, the cost of operation per workstation is significantly lower than in competing Grade A office developments in Glasgow City Centre and any other major city in the UK. It provides very efficient and environmentally-friendly office accommodation delivered into a Glasgow office market where the supply of new Grade A offices has significantly reduced.
Completed in Q4 2015, this striking building provides 172,000 sq ft of Grade A office space over lower ground, ground and 10 upper floors. A prestigious double height reception, concierge-style services and virtually column free, flexible floor plates from 12,000 to 17,000 sq ft with fantastic views, make this an exceptional workspace.