Applecross will be the first tenants of 7 Lochside View, a flagship building within the Edinburgh Park development, ending its long association with the Grange area of Edinburgh where the company has been based in a sprawling detached Victorian house.
The move ends a long search for premises prompted by exceptional growth. Applecross doubled its consolidated turnover last year to £47 million and reported a 74 per cent increase in profits to £7 million.
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The 12,000 sq ft second floor office will be home to 60 full time staff and around 20 new full time positions which will be created before the end of the year.
Colin Cumberland, Managing Director of Applecross, commented: “The new office is a highly significant milestone in the growth of Applecross. Our ambitious growth plans will see us branching out across the UK over the next few years.
“We’re on track to deliver £100 million in house sales in 2009 and included in that is our first Glasgow development via the former BBC headquarters in Queen Margaret Drive. Essentially the location, facilities and views at Edinburgh Park offers everything we are looking for in a new HQ.”
Strategic partnerships are also forming an important part in the shaping of the company. Applecross has already signed a joint venture with Blackrock Land UK to develop an 8 acre site at the Edinburgh Fruitmarket and together will also deliver the BBC development in Glasgow.
Applecross also has agreed a £70 million facility provided by HBOS in June of last year to fund its move into a new brand of higher volume product designed around intelligent space engineering.
(CD/SP)
