Cavalry Park home to 25 businesses
High quality Peebleshire business park, Cavalry Park, is reaping dividends for the local economy after an economic evaluation of the park revealed that it is now home to 25 businesses, which together employ over 200 staff and have a combined turnover of £35million.
Now nearing completion, the Scottish Enterprise development is proving a popular location for a wide range of businesses with further growth anticipated as new developments continue to attract occupiers.
The businesses are diverse in size, type and age ranging from those owning their own substantial premises to those renting small scale offices. Many of the businesses interact from a casual day to day networking to the formal use of each others services.
The employees like the rural area and life style benefits and the general ease of living and working in the same locality with the average wage being higher than the local and national averages.
Cavalry Park was acquired to help create a high-quality business park in Peebles that would help to increase local employment and diversify the local economy. Scottish Enterprise began developing the site in 1992 in phases and completed site servicing in 2005.
Scottish Enterprise invested a total of just over £2 million which has been offset by sales of development land, leveraging in excess of £6 million from the private sector. Assistance received from European Regional Development Fund towards the cost of building an office pavilion played an important role in the early stage of the Park’s development and has since been sold to one of the companies.
The majority of the businesses located to Cavalry Park because the Park offered the right property option for their business, at the right site, at the right price and in the right location. The main business benefits the companies get from being on the Park include room for expansion, ease of car parking, and a good quality environment which is attractive to both customers and staff.
Nigel Watson, Director for Business Infrastructure for Scottish Enterprise said “Cavalry Park is contributing to significant, sustainable economic growth and diversification for the regional economy. The great achievement of the Park is that it has provided a location for businesses to grow and has provided some 200 good quality jobs for local residents.
“The businesses, despite the current economic climate, are on the whole, doing well and have confidence in the future. The Park has also contributed to the reduction of the carbon footprint of the Scottish Borders in that almost all of the employees (98%) live locally in the area and there is anecdotal evidence that many of them cycle or walk to work.”
The support from Scottish Enterprise has made possible the development of this successful business park which now houses nearly 100 000 sq ft of high quality business space.
The private sector has played a key role in the development by providing affordably-priced accommodation, which remains integral to the success of the Park with new space now available through Techauto ltd and Pearson Donaldson Properties Ltd.
Kenny Oliver of Cavalry Park tenant, the rugbystore.co.uk, commented: “Cavalry Park is proving an excellent location for our business. Not only does it boast an attractive setting with high quality accommodation, but its proximity to the capital makes doing business quick, cost effective and efficient.”
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Issued by Aileen Hotchkiss
Scottish Enterprise Press Office
Tel: 0141 228 2848