Commercial property in North Ayrshire
A number of new commercial properties are contributing to the regeneration of North Ayrshire, attracting business and enterprise into the area.
With some properties sold or let, others available and further developments in the pipeline, opportunities for businesses to grow into new accommodation or relocate to the area are currently plentiful.
The recession changed perceptions of value and forced the release of distressed assets to the market, some of these have been refurbished and found new occupiers and others await circumstances turning in their favour. Meantime some new developments have been brought forward.
A number of sites and properties are currently available for let.
A brand new office development has been created at Ardrossan Harbour, taking advantage of a wonderful waterfront location and providing high profile, flexible office space over three floors, with balconies to take advantage of the views. The ground floor offers the potential for a range of additional uses including shops and restaurant right next to the Arran ferry terminal. Additionally there is planning consent for a hotel at the site too. Our procurement partner, hub South West, recently handed over the £3m project completed by contractor Ashleigh (Scotland) limited. Accommodation at Ardrossan Quayside is currently available to let.
Sticking with office accommodation our Annickbank development within i3 appears to be just what occupiers have been waiting for. It offers modern space with a high sustainability credentials, the park even produces its own electricity.
Annickbank Innovation Campus
The recession has meant slower progress than originally expected, but now two pavilions have been built at i3's Annickbank Innovation Campus, creating 1,000 sq m of high quality office space in the first phase of development. This much-needed new office accommodation was built speculatively with the belief that it would attract jobs and businesses into this area of Ayrshire. Within a few months of the property being completed the buildings are fully occupied. One pavilion has been let and the other sold.
We are currently looking at how we might build more space at Annickbank to meet occupier demand.
Then turning to industrial space, Irvine has a competitive advantage at Irvine i3, our 300 acre development park, having secured Enterprise Area status from the Scottish Government in 2012. This 'enterprise area' designation means tax incentives for companies that choose to relocate here. Some of the benefits are specific to life sciences companies, others are relevant to any relocating business but might be especially relevant to companies with high initial capital outlay for example data centres, life and chemical sciences companies or high value engineering. The Enterprise Area has become the major focus of Irvine Bay’s business infrastructure work. Our support and investment has seen a 20% increase in the number of companies within i3 – there are now 30 companies with over 1,500 people employed.
So, what are the opportunities in the Enterprise Area?
Life sciences focus
Irvine already has an established life sciences community with a major GlaxoSmithKline manufacturing base. Sigma Aldrich, Vogel, DSM and others are located here. With nearby teaching hospitals and universities, Irvine is closely connected to the hub of life and chemical sciences development in central Scotland. A number of sites and properties, particularly in i3, Irvine's Enterprise Area, have facilities and incentives that are well focused for companies in these sectors.
Strategic Investment Campus
Part of the Enterprise Area, the Strategic Investment Campus is geared to offer large development plots aimed at manufacturing industries. Plots of up to 50 ha are available, suitable for a single large-scale investment or a series of development sites of 5,000 sq m - 25,000 sq m. The site is the largest flat development opportunity currently available in the north of the UK and is already serviced with major utility provision including, for example, 35MW of electricity ready to switch on and a diverse fibre network allowing superfast and secure connectivity.
Catering for small businesses
At the other end of the business spectrum there are a number of projects catering specifically for smaller businesses and The Grange in Stevenston is a great example. The business centre provides 1,000 sq m of office accommodation in the centre of Stevenston. This development is a response to the need for good quality business accommodation to stimulate the local economy, encourage new businesses to start and to attract business relocation into the area.
Our Ailsa Road small industrial units offer high quality accommodation starting at 100 sq m on flexible terms.