Groundbreaking for site in Scarborough
In Great Britain, the Scarborough Group International (SGI) has started works for the construction of an office building at Thorpe Park Leeds. The 41,000 sqm building, which is pre-let to the credit management company Lowell, has a gross development value of GBP 52 million (EUR 60 million).
Representatives from both SGI and Lowell met on site to mark the official groundbreaking with GMI Construction, principal contractor for the project.
The funding was secured for the project through OakNorth Bank. GMI expects to complete the building by September 2022, ready for the tenant to commence its CAT-B fit-out works before it relocates in 2023.
Lowell has agreed a 15-year lease to occupy the building and will relocate its UK headquarters from two sites at Leeds Valley Park. (sh)