TAYSIDE commercial property developer, Castlecroft, has announced it is to take advantage of a growing trend in renewable energy, following the installation of a solar-powered heating system at Castlecroft Business Centre near Claypotts in Dundee.
Says a spokesperson: “The move comes amidst a backdrop of price hikes announced by major energy suppliers in recent weeks.
“The six-figure sum investment in renewable energy has seen solar panels installed on the roof of the 500 sq metre building which currently houses almost 30 local businesses.”
Anne Smith, managing director of Castlecroft, commented: “This is a bold move but one which we believe offers a sustainable business model for us and our residents, for years to come. Energy bills continue to rise and we have no expectation that this upward trend will stop.
“Our business is about offering quality office accommodation for smaller businesses at affordable prices.
“Some time ago, we moved to an all-inclusive model of rental fees, which includes energy costs and other utilities such as phone and broadband.
“This has been incredibly popular during the economic downturn as firms sought to save money and minimise overheads.
|By moving to solar powered energy we take the power, literally, back into our own hands and can generate more than sufficient energy for our own needs, as well as offer additional energy supply back into the National Grid. It’s a win-win situation.”
Demonstrating their agility in the local market, the team at Castlecroft have secured several major property leases over the last few months, indicating a positive upturn in the commercial property sector.
The Castlecroft Business Centre, where the solar panels have been installed, is currently full to capacity and the firm is undertaking a review of the six other serviced offices it operates in Perth and Dundee to see whether solar power will fuel the next generation of growth.
Anne Smith commented: “The last few months have seen the market returning towards full capacity.
“The Castlecroft business centres and commercial units have all seen a surge in demand. By offering a solar powered option in our portfolio we are also giving tenant firms an unique opportunity to maximise their own green credentials at no extra cost to them.
“This is an increasingly important factor, particularly for those firms who are actively operating in the energy sector.
“The idea, in fact, came from one of tenants, Renewable Energy, a specialist in energy renewables.
“Without them we’d never have known that Dundee was one of the sunniest places in Scotland and that this factor alone could potentially save us thousands of pounds in electricity in the future.”
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Contact: Tricia Fox