New facility set to deliver major business expansion for Hydro Group plc
Buccleuch Property and Moorfield Group (Buccmoor LP) has announced the sale of 0.63 acres of development land at Aberdeen Energy Park to existing occupier, Hydro Group plc.
The site sale has enabled Hydro Group, which designs and manufacturers underwater cables and connectors for subsea, underwater, topside and onshore applications, to expand operations and develop a brand new 13,700 sq ft bespoke workshop, with mezzanine deck.
This will be used to install the company’s new armouring line and also provide a pressure testing area, together with additional storage. This new space is in addition to the 45,500 sq ft already occupied at the park.
This development follows on from the company’s £300,000 investment last year in the advanced armour line, which extended Hydro Group’s product capabilities, enabling the company to offer cable products to improve and support subsea operations.
Doug Whyte, Hydro Group Managing Director, said:
“The new facility and additional space was required in order to diversify and develop our business. The new facility has been a significant investment in the future of our company here at Aberdeen Energy Park and has opened up new business opportunities.
“We are now able to manufacture mechanically protected cables which can withstand higher stresses in subsea and defence operations and the extra space means that we can also offer greater capacity in size and overall lengths.
Hydro Group, an Energy Park occupier since 2008, is currently one of a very small number of companies in the UK to offer this technology.
Speaking on behalf of the parks’ owner, Moorfield Real Estate Fund III, Mark Holmes from Moorfield Group said:
"It is very encouraging to see Hydro Group diversify and expand operations here at Aberdeen Energy Park. We were pleased to be able to facilitate the sale of development land which was available adjacent to the company's existing facility. We look forward to the business continuing to develop and prosper at the park.
"This trend of diversification into new or complimentary business activities seems to be gathering pace around Aberdeen and the North East of Scotland at the present time."
Doug Garden, partner of Knight Frank in Aberdeen, who advised Hydro Group added:
"Having project managed the original building for Hydro Group; it was pleasing to be involved once again in assisting Hydro Group with their further growth at Aberdeen Energy Park, with the new facility set to open officially this Spring."
As well as having sites for sale at Aberdeen Energy Park, Buccmoor is an experienced developer and can tailor bespoke packages to match occupiers' business needs.