HBG Properties completes Discovery Quay, Dundee

19 May 2006 10:08 - BAM Property Ltd

Colindale, London, 19 May 2006 – Discovery Quay Development, a joint venture between HBG Properties, Scottish Enterprise Tayside and Highbridge Properties, is delighted to announce the completion of the final phase at Discovery Quay in Dundee.

Discovery Quay, a mixed use scheme of some 25 acres, comprises the development of a 67,000 sq ft superstore, 30,000 sq ft non-food retail unit, hotel, a visitor centre which is the home for Scott’s historic vessel – RRS Discovery – and 200,000 sq ft of offices.

The scheme has been successful in attracting high quality new jobs to Dundee and it is estimated that over 1,000 people are now employed within Discovery Quay.

The final phase, comprising three office buildings totalling some 59,000 sq ft is 90% pre-let and sold for £16.5 million. The buildings were pre-let as follows:

  • 23,000 sq ft Quadrant House - Regulation of Care
  • 18,000 sq ft 2 Greenmarket - Scottish Enterprise Tayside
  • 12,000 sq ft 1 Greenmarket - Inland Revenue Customs and Excise & Scottish Ministers
  • 6,000 sq ft 1 Greenmarket - To Let

Following the recent completion of these buildings, one suite within 1 Greenmarket is now available to let via the joint letting agents – Knight Frank in Glasgow and Scottish Enterprise Tayside. This suite comprises a ground floor totalling 6,000 sq ft, providing high quality, modern open plan accommodation with 13 dedicated car parking spaces.

The suite enjoys a strategic location, being located adjacent to the city centre and the main railway station.

Michael Smart, regional director of HBG Properties, Discovery Quay Developments Ltd: ‘Our commitment to Dundee has resulted in the successful letting of some 53,000 sq ft in the past year. The quality of the developed office accommodation is reflected in the pre-lettings achieved and current high level of interest shown in the remaining suite.’

Further information:

HBG UK Public Relations Department, Alan Smith, telephone 020 8338 2635, or Lucie Culkin, telephone 020 8338 2710.