THE largest speculative office development in Dundee for many years will provide more than 100,000 sq ft of grade A office space in what the developer calls a “bold, ambitious statement” about a city which has suffered from a lack of readily available new business space.

Dundee One at City Quay is developed built by the Dundee-based Unicorn Property Group, which already has a successful residential development on the city's waterfront.

The two office buildings, City Court and River Court, represent an initial investment of £18 million and will provide high quality office space for the employment of almost 1000 people, typically in the financial, professional and public sectors.

Work will start on the development at the end of this year and the finished buildings, which will be completed in January 2009.

Tim Allan, director of Unicorn Property Group, said: "Dundee is a fantastic city with a high quality, well educated workforce readily available for any investor. The city’s growing reputation and fantastic quality of life is being widely recognised across the world, by organisations in the US in Europe and in the Middle East.

Until now, we have as a city suffered from a lack of readily available new office space.

“Thus Dundee One will meet that need. It's the right time to embark on this kind of speculative development matching the ambition, aspiration and enterprising spirit of the city.

"Dundee has worked hard in recent years, with a lead from the council, to bring in economic opportunity from across the business world. Dundee One will show the world that Dundee is not just open for business, but that it is open to more business.”

Dundee One will be marketed by Montagu Evans and Graham & Sibbald. Hugh Rutherford, partner in charge of business space, Montagu Evans, Scotland, said: “The arguments for Dundee as an ideal destination for investment and relocation are compelling and tenants are beginning to appreciate the deep resources offered by the city.

“As a property agent, you always seek to provide locations that offer a ready supply of highly skilled staff, a good quality of life and a fantastic building. Dundee One offers all these. In addition, its location is unique, on the banks of a great river, in the middle of a city next to all the transport connections you could want.”

Andrew Dandie, partner with Graham & Sibbald, said: “The world is waking up to the potential of Dundee and its ambitious view of the future. With two universities, world class teaching hospital and the Wellcome Trust’s research centres, Dundee is seeing a boom in the knowledge and hi tech economies.

“Dundee One will offer the kind of high quality space to meet the needs of this rapidly expanding sector all in a unique location. We expect demand to be high for what is the most highly specified office investment in the last 30 years.”

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