30 June 2008

Stirling Development Agency unveils £40 million flagship development

Stirling Development Agency (SDA), the newly formed 50/50 joint venture between Valad Property Group and Stirling Council, has submitted a detailed planning application for the development of two office buildings located at the heart of Forthside, Stirling’s 40 acre waterfront regeneration site.



The SDA proposals will provide 127,000 sq ft of commercial office accommodation in a prime location close to public transport facilities and situated on the edge of a new civic square, which will be linked to the city centre by a landmark pedestrian bridge, to be completed this autumn.

Designed by international architects RMJM, the Grade A open plan office space is characterised by private courtyards and roof top terraces with unrivalled views of Stirling Castle, the Wallace Monument and the Ochil Hills. The development is also expected to achieve an ‘Excellent’ BREEAM rating – the most widely used environmental assessment method for buildings.

Jones Lang LaSalle and Montagu Evans have already been appointed to secure pre-lets for the office space, with completion expected in Autumn 2010, to coincide with the completion of the nearby civic square and 4 star hotel.

Andy Richardson, Development Director of Valad Property Group and Director of SDA said: “This is the first of a number of developments being undertaken by the SDA both within the city centre and surrounding areas, which will help to encourage inward investment in the region and facilitate economic growth.”

In addition to the office development application, SDA has also submitted plans drawn up by RMJM for the redevelopment of the adjacent railway engine shed into a new bar and restaurant.

Scott Farmer, Councillor and SDA board member welcomed the progress being made at Forthside. He said: “Stirling is a vibrant, growing city and we are confident that all the developments taking place at Forthside will enhance its reputation as one of Scotland’s most dynamic and attractive places to live and work. With this development we are continuing to strengthen Stirling’s economy by providing high quality business space, which will not only attract new business to the area, but will also allow existing business room for expansion”.

SDA’s proposals reflect its continued confidence in the Stirling market and expand on the successful 11 year partnership between Valad and Stirling Council, which has already delivered business parks on four sites across Central Scotland.



Stirling Office

About RMJM

RMJM is a UK-based, international firm of architects, employing 1200 people across its network of 16 offices in the UK, Europe, the Middle East, the Far East and the United States. RMJM’s expertise and design-led approach is successfully demonstrated in on-going projects in more than 15 countries spanning a wide range of key sectors, from corporate headquarters and waterfront residential developments to major public buildings, university campuses and large-scale regeneration programmes. The company currently has £10.5 billion worth of construction projects on its drawing boards, including some of the world’s most high profile and ambitious projects.

About Valad

Valad is a value adding property group that encompasses funds management, investment, development and property investment banking. Valad is a Top 150 ASX-listed company with offices throughout Asia Pacific and Europe with approximately A$20 billion of assets under management.

Valad's revenue is well diversified by business line, property sector and geography. Valad’s capital sources are also diversified and include pension funds, wholesale investors, retail investors, banks and financial partners. Valad aims to foster long-term relationships with all of its investors and partners.

Valad has been providing investors with innovative products and delivering superior returns since 1995. Valad’s funds management business draws on the reputation and expertise of its talented team of property and finance professionals. Valad’s name is derived from the words "value add" and this philosophy is reflected in the total return focus of the Group’s managed funds.

Valad will continue to seek opportunities to "value add" in existing and new markets to further grow and diversify its earnings while meeting the aspirations of shareholders, investors and staff.

Thistle Centre Stirling

Stirling Castle

Stirling Offices: Robertson Group

Station Square Stirling



World Architecture : e-architect - a guide to key buildings across the globe

Stirling house

Stirling Council Offices

Buildings / photos for the Forthside Stirling Office Buildings page welcome:
info@e-architect.co.uk

Forthside Offices Stirling : page - adrian welch / isabelle lomholt