Knight Frank - Edinburgh, Scotland

Date: 19 Jun 2009

The third phase of development at John Smith Business Park in Kirkcaldy is now open as Scotland's First Minister, Rt. Hon Alex Salmond unveiled a plaque as part of the opening ceremony.

Acting on behalf of Fife Council, property consultancy Knight Frank is now seeking prospective tenants for JSbp3, the latest building on the Fife business park. The building occupies a two acre site on the west of the park and provides 23,500 sq ft of modern, open plan office accommodation across three floors.

The John Smith Business Park extends to 60 acres with outline planning consent for approximately 400,000 sq ft. The park's masterplan covers a range of uses including a 4-star business and conference hotel, gym, nursery and ancillary facilities. Over the long term it is anticipated that between 3000 and 4000 new jobs can be created.

JSbp3 follows on from the success of the first two phases of development at the park, which have both been sold to MGt. A new Evans Business Centre has also recently been completed on the business park. The business centre has been created as a 22,500 sq ft joint venture development between Fife Council and Evans Easyspace.

To support the current developments on the park and to provide the basis of future development, Fife Council has made a major investment in infrastructure amounting to around £6.2 million, including £1.57 m from the European Regional Development Fund. Improvements to the site's infrastructure include a new roundabout on the A910, spine road and utilities.

Nadir Khan-Juhoor, partner, Knight Frank said: "John Smith Business Park is a growing business park of significant importance to the long term future success of Fife. Following the success of the first two phases of the park we anticipate that there will be interest from a range of businesses for JSbp3. The space is very flexible and is being offered for lease in its entirety to attract a large single occupier.

"The business park will be fully developed over a 15-20 year period and we look forward to a continued working relationship with Fife Council as we help them to market forthcoming sites."

Councillor Peter Grant, Leader of the Administration said: "It's fantastic to see the third phase of John Smith Business Park successfully completed. John Smith Business Park is one of Fife's key strategic development sites and its development is part of a programme of business infrastructure projects which are being undertaken in Fife to ensure that the area is able to offer a competitive range of sites and buildings in attractive and accessible locations.

"It is important to ensure that we can successfully bring high quality jobs to Fife, and I look forward to seeing this exciting development help John Smith Business Park grow in strength over the coming years."

The building was funded by Fife Council with an investment of £2.7 million, with the support of Scottish Enterprise who provided financial support of £475,000 as a short term loan.

Scotland's first minister, Rt. Hon Alex Salmond, at the opening of JSbp3

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