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Coretax acquires at Aberdeen Gateway

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2013-02-01 13:15:38 - Aberdeen-based oilfield services firm Coretrax has expanded its operations with the acquisition of a new-build industrial unit with office space and yard at Stockland Muir’s £100 million Aberdeen Gateway Business Park development.

Joint agents Ryden and Knight Frank negotiated the sale of the 1,087 sq m (11,700 sq ft) unit for £1.675 million on behalf of joint venture company Stockland Muir. Coretrax was unrepresented.

Aberdeen Gateway is a fully serviced mixed-use business park comprising a total of 45 developable acres. The site was first established in 2008 and existing occupiers include Hydrasun, National Oilwell Varco, Special Piping Materials and Driving Standards Agency. Stockland Muir is currently in discussions with a number of other parties and further deals are expected to be announced in early 2013.

One of the agents at Aberdeen Gateway commented: “Aberdeen Gateway is ideal for Coretrax as it provided them with new modern space at the size they required and

reflects the corporate image they wanted to portray. The park is also conveniently located alongside the main access point into Aberdeen city centre, the A90, and the junction with the A956 into Aberdeen Harbour.”

Stockland Muir commented: “Despite a challenging funding market, we have continued to develop speculatively at Aberdeen Gateway and this reflects the strength of the joint venture and the market we have targeted. The occupational market in Aberdeen remains active due to the continued expansion of the oil and gas industry in the North East and we are in discussions with a number of major occupiers seeking bespoke facilities. These facilities could see further investment at Aberdeen Gateway of £40 million. We are also looking to construct further speculative units to match the continued demand for this type of unit.”


Notes to Editors

Ryden is an independent commercial property firm operating a full-service practice. Service lines include Agency & Development, Investment & Finance, Professional, Building Consultancy, Property Management and Consulting.

The firm is headed by Fiona Morton, Chairman and has around 140 people, including 32 partners and 20 associates.

Ryden has offices in Edinburgh, Glasgow, Aberdeen, Leeds, Dundee and Inverness.

Awards include:
• EGi’s Most Active Agent in Scotland 2011
• EGi’s Most Active Industrial Agent in Scotland 2011
• EGi’s Most Active Office Agent in Scotland 2011
• CoStar’s No.1 Edinburgh & Glasgow Office Agent by No. of Disposals 2011
• CoStar’s No.1 Scotland Industrial Agent 2011
• Property Week’s Industrial Agency Team of the Year (Scotland) 2009

For more information see

Press Information:

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Lisa Lumsden
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Phone: 0131 225 6612
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