Scotland-based commercial developer Saltire Business Parks has completed a raft of deals at Moray's Elgin Business Park, enabling four developments to commence over the coming months, according to the firm.
Financial deals were not disclosed.
Saltire has completed the sale of two sites to Drum Property Group, covering three acres (12,140 m2) in total. Drum is set to deliver a new Travelodge after work started on the 61-bedroom hotel earlier this month, in addition to the construction of a new outlet for Euro Garages.
'We are pleased to have concluded these deals with Saltire, and to be working in partnership with Travelodge and Euro Garages to bring these exciting new hotel and retail outlets to Elgin,' said David Kilgour, projects director at Drum Property Group.
'The provision of these facilities and services will deliver real benefits for local residents and visitors, whilst providing additional economic impact for the town and surrounding area,' Kilgour added.
The developer said it would also speculatively develop 14,000 ft2 (1,300 m2) of industrial space on another plot within Elgin Business Park, the largest industrial estate under construction in the north of Scotland.
Furthermore, Speyside Scaffolding has completed a deal to acquire a 1.5 acre site from Saltire for a new industrial compound.
Elgin Business Park is situated near Elgin the Moray region, which lies north of Ciarngorms National Park on Scotland's north-east coastline.
Alan Esson, managing director, Saltire Business Parks, said: 'The high-profile deals with Drum Property Group and Speyside Scaffolding represents a good start for Elgin Business Park, but there is much more to come.
'There is a severe lack of land available for commercial development across the north of Scotland, which, in turn, is hindering the growth of local businesses. Two other sites are under offer and we are in talks with a number of parties - both local and national - and I’m confident we’ll be welcoming many more businesses to Elgin Business Park in the future.'
