UK lender Barclays has provided Glasgow-based HFD Group with a £56 mln (€70 mln) development finance package for one of the largest office projects in Aberdeen.

UK lender Barclays has provided Glasgow-based HFD Group with a £56 mln (€70 mln) development finance package for one of the largest office projects in Aberdeen.

HFD Group has secured a 6.5 acre site on the outskirts of Aberdeen and gained planning permission for the 215,000 sq ft (20,000 m2) office development.

The Barclays funding will support phase one of the CityPark project, with CityPark 2, a second 100,000 sq ft (9,600 m2) office development, currently going through the planning process.

CityPark1 is set to be completed in Q3 2015 and is pre-let to Wood Group PSN, a provider of brownfield services in the oil and gas industry which currently operates an adjacent facility.

'Demand for office space in Aberdeen is still soaring and we expect this to continue for the foreseeable future, being met in the main by out of town developments,' said Jamie Grant, head of corporate banking, Central Scotland at Barclays. 'We are keen to continue to grow our presence in the northeast of Scotland and this deal demonstrates our support for both the region and the oil and gas sector.'