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Hazledene secures funding for £75m Aberdeen scheme

 

Justice Mill Lane, Aberdeen

 

Developer Hazledene Group has secured funding with Anglo Irish bank for its £75m mixed use scheme in Aberdeen.


 

The scheme, to be built on a former car park and service station on Justice Mill Lane, will be one of Scotland’s largest mixed-use schemes.


 

Plans include 120,000 sq ft of offices and a 184-room hotel scheme to be operated by Rezidor’s Park Inn brand.


 

Jim Brydie, director of lending at Anglo Irish Bank Scotland, said: “With demand for both office accommodation and hotel space on the rise in Aberdeen, we saw this as an excellent opportunity.”


 

Mark Shaw, chief executive at Hazledene Group, added: “Anglo Irish Bank’s commitment to the project will allow us to deliver our vision for the site, and set new standards for the provision of commercial office space and hotel accommodation in the heart of one of Scotland’s most dynamic cities.”


 

Aberdeen is currently witnessing significant growth as a result of the booming oil market, on which its economy is heavily focused.


 

Work on the Hazledene scheme, designed by Richard Murphy Architects, is expected to begin in January, with completion due in autumn 2009.

 

david.quinn@rbi.co.uk


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