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14/04/2008

Demolition Begins On £75m Aberdeen Development

Hazledene Estates, part of the Hazledene Group, today announced that work has commenced on its £75m redevelopment project on Justice Mill Lane, Aberdeen.

Demolition work, which is being carried out by contractors Lawrie (Demolition) Ltd, has begun on the 1.5 acre site located off Union Street in the city centre.

The demolition phase of the project is expected to take 14 weeks to complete, with the overall development completion in early 2010.

As one of Scotland's largest current mixed use developments, the site will be transformed into 120,000 sq ft of high quality contemporary commercial office space with another 100,000 sq ft dedicated to the Rezidor Hotel Group which will open its 100th Park Inn hotel on the site. There will be two floors of underground parking providing more than 260 spaces for both business and public use.

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Mark Shaw, Chief Executive at Hazledene Group Ltd, commented: "We have the opportunity to develop one of the last remaining substantial city centre sites in Aberdeen and are using that opportunity to set a new standard of quality. We see the office and hotel as being complementary in terms of our development's commercial attractiveness, and believe it will enhance the commercial vitality of this area of the city."

"Demand for high quality offices in Aberdeen continues to outstrip supply, and we have confidence that this will continue, despite less favourable economic conditions elsewhere." Energy saving methods have been used throughout the design of the project such as low energy air conditioning systems.

The building will also use external solar control devices to achieve a B+ rating for energy performance which is 30% more efficient than the standard building regulations require. The BREEAM (Building Research Establishment Environmental Assessment Method) will be used throughout the planning and construction phase to benchmark the performance of the project and determine how it is impacting on the local environment.

The development has been designed by the multi award-winning and internationally renowned firm of architects Richard Murphy Architects (RMA) and is being funded following an agreement between Anglo Irish Bank in Scotland and Hazledene Group.

(GK/JM)

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