AN INVESTMENT OF over £850,000 is to be made in Forres to expand a business park in order to meet rising demand for industrial units.
Five new units are currently under construction following the success of four factory units built at Waterford Circle two years ago. When these are completed estate roads will also be upgraded along with further improvements to the estate.
Moray Councillors have been briefed this week on progress on the current work and the long term plans for the business park, with local councillor George Alexander saying that the new units will provide a jobs boost for the area.
Councillor Alexander said: “There is clearly a steady stream of entrepreneurs in this area that need premises to get started, and I’m delighted that Moray Council can play its vital part in supporting them.
“We all know money is tight, but we have to take a long-term view of the area’s development, and supporting the creation of well-paid jobs is a vital part of that strategic role.”
When completed the Waterford Circle Estate will be both fully developed and let – meaning that there will be no further land for any future expansion, although the local authority are investigating other sites in the area.
Councillor John Cowe, who is chair of the Economic Development and Infrastructure Committee and the Moray Economic Partnership, said the development was a welcome sight for the local economy.
He said: “Business units in Forres have been virtually fully let for over 10 years, with smaller factory units rarely being vacated and strong demand leading to quick re-lettings whenever any became available,” he said.
“This demand was clearly demonstrated when the Phase 1 units at Waterford were fully pre-let at completion in January 2014.
“They are let at commercial rates, allowing a return to the council that can then re-invest in other such developments for business.”
Local SNP councillor Aaron McLean has welcomed the development: “It’s fantastic to see the development making good progress at Waterford Circle. Not only is it a great financial investment for the council, it provides much needed accommodation for businesses in the Forres Area.”
The new units being built will provide flexible space for a variety of business uses, and interested parties can obtain details on the Council’s website (www.moray.gov.uk/estates) or by phoning 0300 1234566.