20 Aug 2014

Prime Property meets Prime Four

Prime Property meets Prime Four

Claire Garrioch, Senior Valuer, comments on the continuing success of one of Aberdeen’s most prestigious suburbs.

Claire Garrioch, Senior Valuer, comments on the continuing success of one of Aberdeen’s most prestigious suburbs.

Kingswells has long been acknowledged as one of Aberdeen’s most prestigious suburbs, offering an excellent supply of quality housing and local amenities. The location to the West of Aberdeen city is one of the attractions, with the area offering easy access to the city, airport and the industrial and business parks located in Dyce and Westhill.

Highly accessible from all directions and benefiting from excellent public transport links, the area was selected to become home to ‘Prime Four’. The first few tenants in this huge Business Park development have now taken occupation of their completed buildings, which marked the completion of Phase 1 in what is Aberdeen’s first and only world class Business Park.

The second phase will include a central society focal point for the site with small-scale retail space, a four-star hotel, a fully serviced gym and health club. It is thought that this type of facility will help tie the development to the existing community, enhancing and providing the local area with new amenities and benefits.

The developers of Prime Four have been committed to enhancing access to the area and have funded major road improvements. The A944 has been widened east and west bound, with additional dedicated lanes provided and the existing Kingswells roundabout realigned prior to the completion of phase 1.

The village of Kingswells is an established residential suburb with house prices exceeding the city average.  While the city of Aberdeen and suburbs have enjoyed a rising property sales market in 2014, Kingswells has outperformed many other areas. 

According to Aberdeen Solicitor Property Centre reports, the average property sale price in Aberdeen suburbs from 1st Jan 2014 to date is £273,911 which is an increase of 12% against the same period in 2013. 

The average property sale price in Kingswells for the period 1st Jan 2014 to date is £347,108, which represents a 24% increase against the same period in 2013.

Surely this is not a coincidence?  The development of Prime Four has undoubtedly enhanced the area and increased the demand for local housing considerably and this ‘boom’ in the property market may only be the tip of the iceberg!  It will be interesting to observe whether the trend continues as the business park expands into phases 3 and 4, and the AWPR (Aberdeen Western Peripheral Route) approaches completion in the coming years.

Claire Garrioch, Senior Valuer


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