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Landmark £22.4 million office development for M&G in Stirling is short-listed for Scottish Property Award

Landmark £22.4 million office development for M&G in Stirling is short-listed for Scottish Property Award

New office for M&G plc sets the standard for sustainable development in Stirling

Stirling Development Agency Limited’s (SDA’s) recently completed development at Kildean Business Park has been short-listed for the 2023 Scottish Property Awards in the commercial development of the year category.

The £22.4 million bespoke office building was developed for M&G plc in Stirling. Providing 77,380 sq ft of Grade A office space across three floors, this striking landmark building sets the standard for sustainable office development in Stirling and the central belt of Scotland.

Built on a six-acre riverside site, close to the entrance of Kildean Business Park at junction 10 of the M9, the building has panoramic views towards Stirling Castle and the National Wallace Monument.

The building has been designed to BCO 2019 standards, accredited ‘BREEAM ‘Excellent’ and has achieved an EPC ‘B’ rating. It was constructed with sustainability and well-being firmly in mind, with all-electric infrastructure and VRF air conditioning.

Designed by Michael Laird Architects, a number of the bespoke design features allow for a significant reduction in CO2 emissions, energy waste and energy consumption, including enhanced thermal insulation and next-generation air source heat pump technology to maximise efficiency.

By using point of use domestic hot water heaters, low energy equipment, LED lighting on all floors and high-performance building materials, the property will enable M&G to reduce their environmental footprint.

The design of the development makes use of natural light-filled spaces and offers 100% ventilated fresh air delivered to the working environment via heat-recovery air handling units to support the health and well-being of staff.

Set in a beautiful riverside location on the banks of the River Forth, the building offers a safe and secure, green and sustainable environment that also features outdoor meeting and eating areas, along with an outdoor exercise zone, a pilates area and raised bed gardens for the staff gardening club.

Externally, there are 280 car parking spaces, including 62 EV charging bays, on-site coach parking, 88 covered and secure bike racks plus locker spaces with changing and shower facilities.

David Lawrence, Head of Strategic Projects, Europe at Cromwell Property Group and SDA Board Member said:

“Our vision is to create an environmentally friendly business park offering sustainable workspace within a green landscape. The new office building is a great example of our collaborative approach to development and commitment to sustainability.

“It is another major step forward in the on-going growth of Kildean Business Park and we are hugely honoured for it to be short-listed for this award.

“The new building will offer a contemporary and modern working environment, but crucially all set within a highly sustainable office, with significantly reduced operational energy demand. This is of particular importance given the environmental benefits of reduced energy consumption.

Stephen Brewer, Project Director of Michael Laird Architects said:

“This development has created a new landmark for Stirling. Sustainability has been a core focus during the design and development of this project, to meet occupier requirements for low emissions and a reduction in environmental footprint through careful material specification and high-quality construction of the external envelope to meet and exceed minimum standards for insulation and airtightness.

“Strong rustic brick and metallic bronze-coloured windows combine to create a contemporary Scottish aesthetic in this magnificent setting.

“Completing this project is a significant milestone and we are very proud of the sustainability credentials it has achieved.”

Craig Watson, Director of JLL said: 

“Kildean is one of the most sustainable and green business parks in Scotland. We anticipate that it will be an attractive prospect for many occupiers due to the high specification, strong environmental credentials and excellent connectivity.”

The journey for the successful completion of this project started at the end of 2019 and continued during the pandemic in 2020, with planning submitted at the end of May 2020. Aviva Investors, the global asset management business of Aviva plc completed a £22.4 million forward funding agreement with SDA in January 2021 and the pre-let off plan 20-year lease of the office building to M&G plc was agreed and construction commenced in February 2021. Practical completion of CAT A and CAT B was achieved in May 2022, with tenant CAT C in August 2022.

Kildean Business Park is just 35 minutes away from Glasgow / Edinburgh and easily accessible by the M80 and M9 motorways ensuring all that Scotland has to offer is close at hand. Designed as a high quality, environmentally sensitive development, the masterplan is capable of delivering more than 400,000 sq ft (37,161 sq m) of new Grade A office accommodation. The size and use of the individual buildings can be tailored to suit specific requirements, subject to planning.

JLL is letting agent for SDA at Kildean Business Park. Further information on other opportunities at the park can be found HERE

The full list of those short-listed for the 2023 Scottish Property Awards can be found HERE

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BDC 317 : Jun 2024