A conditional sale of land at the entrance of the proposed new Kildean Business Park has been completed.
The sale to pub and retail group Marston’s was conducted by Stirling Development Agency – a 50/ 50 joint venture between Stirling Council and property investment firm Valad Europe.
Marston’s already own The Highland Gate family pub restaurant at Kildean and the three-quarters of an acre of land in this latest deal is earmarked for a 38-bed Lodge Hotel.
The deal is conditional on Marston’s getting planning permission for this hotel.
Convenor of Stirling Council’s Finance and Economy Committee, Councillor Neil Benny, said: “We’ve made no secret of our ambitions for growth in Stirling, bringing more high quality businesses and greater employment opportunities to the city and wider area.
“This move by Marston’s to expand their existing presence in Stirling is a real vote of confidence in our plans and a sign that things are very much moving in the right direction for us.”
Andrew Richardson, Valad Europe’s Head of UK Development, commented: “This sale demonstrates the quality of Kildean Business Park as a future destination for local businesses.
“More than half of Scotland’s population is estimated to live within a one hour drive of Stirling, with around eight in ten living within two hours.”
And Adrian Blackburn at Marston’s added: “Kildean Business Park is a great location for one of our Lodge Hotels and, subject to gaining the necessary consents, it will become our sixth newly built example in Scotland since 2014, in addition to the 12 family pub restaurants built and successfully opened in the country since 2013.
“Our hotels are ideally suited to the type of national and international business that will take advantage of Kildean Business Park’s excellent range of office space and ancillary retail and leisure facilities.”
With teams in Edinburgh, London, Leeds and Scarborough, Valad Europe's UK real estate team manages £1 billion of investment assets and more than £250 million of development projects in the UK, comprising 80 properties and 420 tenants.
Marston’s is one of the largest licensed retailers and brewers in the UK, with some 1500 trading premises and five breweries. They have an annual development budget of c. £80m for up to 30 new build family pub restaurants and hotel lodges throughout the UK, and employ 13,000 people.
Located close to Junction 10 of the M9 motorway, Kildean Business Park will comprise a range of office pavilions and an HQ facility of up to 100,000 sq ft. Kildean is particularly well suited to companies looking for centrally located offices in Scotland.