Drum announce £100m Investment at Prime Four
05th October 2016
500 New Jobs Set to be Created as Developer Submits Plans for 320,000 sq. ft. Retail Park
Drum Property Group has submitted plans to expand the Prime Four Business Park in Kingswells, Aberdeen, with a £100m investment in a new adjacent retail park.
Drum, developers of Prime Four, has submitted an application to the City of Aberdeen Council for a 320,000 sq. ft. retail development, including a food store, next to the existing business park. Subject to the planning consent, major retailer Next will be the first store to move on to the retail park, with another famous high street brand to confirm shortly.
It is anticipated that that the new, purpose-built retail park will deliver significant economic benefits for Aberdeen - including an estimated 500 new jobs. And, despite the challenging environment in the North East, Drum remains committed to continuing to invest in additional services and amenities for Prime Four, and the surrounding area.
Graeme Bone, Group Managing Director of Drum Property Group, said: “We are very excited about the potential the retail park could bring to the city and wider area. As well as jobs, new services and retailer brands, a development of this size will have a significant positive economic impact on the area at a very challenging time for the North East economy.
“The calibre of development proposed will ensure Aberdeen maintains and enhances its status as the principal shopping location in the North East. We look forward to working with the City Council in developing our plans for the expansion of Prime Four and making this substantial investment a reality.”
He added: “We are currently in active discussions with a number of retailers for the new retail park, some of whom are looking to expand their presence in Aberdeen, and others who are new to the city.”
Prime Four is now firmly established as a major world energy centre and an award-winning development of local and national economic significance. The new proposals for a retail park form a logical extension to Prime Four, taking advantage of its high accessibility by public transport, increasing choice and services, and building on the location’s status as a hub for business and leisure activity.
A spokesperson for Next said: "Next is currently looking to increase its footprint in Aberdeen, and the site at Prime Four would really complement our existing in-town outlets, providing the brand with a strong ‘bricks and mortar’ presence in the North East. The Prime Four location is extremely well connected, and will be easily accessible for customers from all over the region. Combining these city centre and edge-of-town Next stores with our dynamic on-line presence provides Next with a fantastic platform for the future."