Springfield Properties Plc has secured a £1.9m investment for the Elgin Business Park (EBPL) from Highlands and Islands Enterprise (HIE), as highlighted on their website.
The first phase of the development will start soon with the Barmuckity Farm. The funding from the HIE will go towards the £6.8m cost of creating the infrastructure. Phase one will involve developing a 66-acre section of the full 125 acre site. Development of the full site it is estimated to require 32 full time equivalent jobs in the construction industry.
The Elgin Business Park is anticipated to have a variety of uses including industrial, office, warehousing, hospitality and retail premises. It is estimated for the development to take around seven years to complete.
HIE’s acting director of business and sector development, David Oxley, said, “This is great news for Moray and the realisation of a long-standing aspiration. This development will allow indigenous businesses to grow and inward investors to locate in Moray. It will create jobs and retain skills and help Moray become more diverse, competitive and resilient. We are very pleased to see this private sector led development reach this stage and delighted to be able to confirm our support.”
Furthermore, Sandy Adam, the Springfield Chairman who is involved in the project, said, “We are very pleased to be working alongside Highlands and Islands Enterprise in this project whose investment will allow us to deliver Moray Council’s economic vision for the area.
'We are already in advanced discussions with a number of existing Moray businesses who are keen to grow their business but have been restricted due to the lack of land available. This will allow them to plan for the future and this can only be seen as a benefit for the region in terms of economic and employment growth.
'We anticipate being on site within the next few months with the first occupiers being on site in 2018.”
Councillor John Cowe, Chair of Moray Council’s Economic Development and Infrastructure committee, and of the Moray Economic Partnership, added, “This is the trigger we have been hoping for to get this project going, and I’m delighted that HIE have made it happen.
'As members of the Moray Economic Partnership we are all pushing in a number of directions to improve the local economy, but Barmuckity is a big part of our agenda in this regard.
'With the adjacent £86 million Elgin Flood Alleviation scheme now complete and thoroughly tested, businesses can have renewed confidence in locating their operations within this new development.”