Select your client type BE, English About Responsibility Capabilities Views Contact Search English About us Company news Aviva Investors Real Estate Long Income Fund completes £22.4 million forward funding of office space in Stirlingshire 10 March 2021 (London) – Aviva Investors, the global asset management business of Aviva plc (‘Aviva’), has announced that it has completed a forward funding agreement of £22.4 million for the first office facilities at Kildean Business Park, Stirling, which is currently being developed by the Stirling Development Agency. The Stirling Development Agency is a joint venture between Cromwell Property Group and Stirling Council, established over 20 years ago. The building, which will offer 77,000 sq ft of lettable office space, has been designed with environmental considerations at its core and will aim to achieve a BREEAM rating of ‘Excellent’. It is scheduled for completion in mid-2022 and is pre-let to M&G on a 20-year lease which includes five-yearly reviews, linked to RPI. Set on the outskirts of Stirling, Kildean Business Park will be a sustainable development comprising approximately 39 acres (15.78 hectares) of mixed-use facilities and office buildings, ranging in size from small business units to large headquarters. The site is well-serviced by regional and local transport networks, sitting adjacent to Junction 10 of the M9. It is also linked with local cycle networks and the completed office will have high-quality facilities such as cycle spaces, lockers and showers within the building. Renos Booth, Head of Real Estate Long Income at Aviva Investors, said: “We are pleased to add this office facility to our portfolio of investments and to be making the first significant commitment to the development of Kildean Business Park. The development has been developed with sustainability and ESG considerations featuring prominently in the design process, something we are particularly mindful of as we continue to decarbonise our Real Assets portfolio. Not only should this benefit the local community, we believe it should also add a layer of future-proofing and therefore offer enhanced income resilience for our clients over the long-term.” Matthew Bird, Head of UK at Cromwell Property Group, commented: “The office development at Kildean Business Park is a great project, which we believe provides a template for future office development in the UK. On completion, it will incorporate a range of measures to ensure the wellbeing of staff in the workplace, as well as scoring highly against widely accepted environmental and sustainability benchmarks. We are delighted to have been able to complete this transaction with Aviva Investors, which marks another important milestone in our long-term involvement with Stirling Council and the Stirling Development Agency.” For more information contact: James Morgan Media Relations Manager Phone +44 20 7809 6745 Email james.morgan@avivainvestors.com Steve Ainger Head of Media Relations Phone +44 20 7809 8452 Email steve.ainger@avivainvestors.com Important information The information and opinions contained in this document are for use by the financial press and media only. No reliance may be placed for any purpose on the information or opinions contained in this document nor should they be seen as advice. The press release is provided on the basis that Aviva Investors Global Services Limited is not causing the communication of a financial promotion under exemption of the Financial Promotion Order, as Aviva Investors Global Services Limited has no control over the way in which an article based on this press release is prepared and published by the financial press and media. Except where stated as otherwise, the source of all information is Aviva Investors Global Services Limited (“Aviva Investors”) as at 10 March 2021. Unless stated otherwise any views, opinions expressed are those of Aviva Investors. They should not be viewed as indicating any guarantee of return from an investment managed by Aviva Investors nor as advice of any nature. The value of an investment and any income from it may go down as well as up and the investor may not get back the original amount invested. Issued by Aviva Investors Global Services Limited, registered in England No. 1151805. Registered Office: St Helen's, 1 Undershaft, London, EC3P 3DQ Authorised and regulated by the Financial Conduct Authority. Aviva Investors Aviva Investors is the global asset management business of Aviva plc. The business delivers investment management solutions, services and client-driven performance to clients worldwide. Aviva Investors operates in 14 countries in Asia Pacific, Europe, North America and the United Kingdom with assets under management of £366 billion in assets as at 31 December 2020. AVIVA PLC For information on how Aviva is helping our people, customers and communities impacted by COVID-19 visit: www.aviva.com/covid-19-our-response/ Aviva is a leading international savings, retirement and insurance business. We exist to be with people when it really matters, throughout their lives – to help them make the most of life. We have been taking care of people for more than 320 years, in line with our purpose of being ‘with you today, for a better tomorrow’. Our vision is to earn our customers’ trust as the best place to save for the future, navigate retirement and insure what matters most to them. In 2019, we paid £33.2 billion in claims and benefits on behalf of our 33.4 million customers. We will focus on the UK, Ireland and Canada where we have leading market positions and significant potential. We will invest for growth in these markets. Our International businesses in Europe and Asia will be managed for long-term shareholder value. We will also transform our performance and improve our efficiency. Our transformation will be underpinned by managing our balance sheet prudently, reducing debt and increasing our financial resilience. Total group assets under management at Aviva group are £522 billion and our Solvency II capital surplus is £12.0 billion (HY20). Our shares are listed on the London Stock Exchange and we are a member of the FTSE 100 index. 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