Business park sale
Montrose site ready for take-off after Crown Estate deal
Zero Four: huge development opportunities
Crown Estate Scotland has acquired one of Scotland’s most ambitious commercial development sites near Montrose, Angus.
The 123-acre Zero Four site has been bought from ISLA Developments for £3.7m.
The deal forms part Crown Estate Scotland’s long-term plans to invest in renewable energy and the expansion of the blue economy to deliver wider value for Scotland.
The site is considered to have strong potential for supporting the development of key sectors such as offshore renewables, as well as retail and hospitality, bringing major benefits to the area around Montrose and helping to kick start a green economic recovery in the region.
Earlier this year, Crown Estate Scotland announced its intention to invest £70m in support of coastal community regeneration, green energy and sustainable food production over the next three years.
Andy Wells, director of property for Crown Estate Scotland, said: “The site holds a great deal of potential and will allow us to build on the strong partnerships we already have in the marine energy and ports sectors.
“This would be good news at any time, but is especially welcome now as we look to kick-start economic recovery following the response to the COVID-19 pandemic, this offers a fantastic chance to bring major investment to Montrose and the wider north east region.”
Cabinet Secretary for the Environment, Climate Change and Land Reform, Roseanna Cunningham MSP, said: “The Scottish Government is committed to ending Scotland’s contribution to climate change and securing a sustainable future.”
A heliport forms part of the project
The site was the first operational RAF training airfield in the UK, with the Zero Four name emanating from the original runway call sign 04 22.
It has planning permission for a mixed use business park, with outline proposals including industrial units, offices, food retail / services, a heli-drone port and hotel, leisure & conference facilities.
Crown Estate Scotland will now work with public and private sector partners to develop detailed plans.