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Caithness News Bulletins October 2005

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New Park New Park At Forss The Tulloch Group

New Park and Tulloch launch joint venture with purchase of Caithness Glass Factory

New Park, one of the UKs leading private sector developers of Business and Technology Parks and Tulloch Ltd, the construction, housing and property group, today announce the formation of New Park Tulloch, a new joint venture company which has the objective of harnessing the demand for public sector property development needs with the provision of high quality environments for private enterprise.

The joint venture is sealed today with the agreed purchase of the former Caithness Glass Factory. Tulloch will provide the construction expertise alongside development and management from New Park. This is the first joint venture under the New Park Tulloch name, however a further eight sites have already been identified for development in and around the Highlands.  The site has 43,000ft2 of floor space and is set in 6 acres of ground close to Wick airport.

New Park Tulloch is looking to secure a public sector anchor tenant for the developed site at Caithness as well as providing incubator space for around eight smaller private companies. These units will be suitable for small office set-ups and light tooling workshops. The company hopes to promote the growth of new technology by developing the dynamic environments in which
innovative companies in the SME sector can prosper.

New Park Tulloch will pioneer new models of development whereby the public sector and private sector will be based together on newly developed sites.  Murdo Mackenzie, Chairman of New Park commented: "This is partnership for purpose. The two companies bring together a mix of skills and strengths.

New Park and Tulloch have already proved they can work together in successful partnership at both Forss Technology and Business Park and at The Greenhouse in Inverness.

David Sutherland, Chairman of Tulloch Ltd stated: "This formal joint venture signifies our complete confidence in the ability of our companies to come together and with the sum being more than its individual parts, allowing successful property development for the public sector while at the same time supporting private enterprise" John Thurso, Member of Parliament for Caithness, Sutherland and Easter Ross said: "I am pleased to know that the former Caithness Glass building will once again be in use offering the prospects of local employment. In particular, the provision of incubator units is a most welcome opportunity to encourage new locally-based enterprises and I congratulate the new partnership on its approach."

New Park Tulloch aims to open the Caithness site by mid 2006.

Tulloch Dounreay was recently applied for planning  permission for the development of a 20m leisure and business complex at Upper Dounreay Farm in Caithness, including hotels, a swimming pool and self-catering.