West Coast Estates completes commercial acquisition in St Andrews

Craigtoun Park, which has an estimated completed development value of approximately £25 million, is a 7-acre mixed-use development comprising more than 60,000 sq. ft of consented commercial and employment space.

The business park, which will feature a combination of fully-serviced retail, office, and business units, represents a rare development opportunity in St Andrews. The flexible mix of unit sizes and uses will allow the development to accommodate a range of occupiers, serving both the local community and visitors alike. The acquisition follows planning permission being granted to West Coast Estates last year.

The development coincides with the delivery of around 1,250 new homes in the surrounding area. It is estimated that the business park will create at least 170 permanent jobs and 100 construction jobs, while giving the local community greater choice, boosting the local economy and generating over £500,000 pa. in business rates to support essential services.

Craigtoun Park is expected to attract operators within the consumer and business-to-business sectors, ensuring strong, long-term demand, while also providing modern, purpose-built spaces for local businesses. Discussions are progressing with several prospective occupiers, including a potential anchor.

West Coast Estates director, Iftikar Mian, said: “The completion of the acquisition of Craigtoun Park is a significant moment for West Coast Estates as we continue to expand our focus on breathing new life into brownfield and underutilised sites across Scotland.

“Development opportunities of this scale in St Andrews are extremely rare and represent a fantastic opportunity for established operators as well as local businesses.

“The business park, which benefits from fully serviced plots in a highly visible gateway location into St Andrews, will complement St Andrews’ existing business ecosystem by attracting major new occupiers while also providing existing local businesses with an opportunity to expand into purpose-built, modern facilities that are within easy reach of the town centre.”