Anderson Strathern acted for the Wakelyn Trust in a deal which will see the redevelopment of Nigg Fabrication Yard which Highland Council predict could generate up to £65m a year to the Highlands Economy.

Nigg Yard is a 238 acre facility situated on the Cromarty Firth north of Inverness.  The Yard, originally developed in the 1970s for oil rig production, has fabrication/warehouse buildings, extensive yard space, a dry dock and deep water quayside, all set in a strategic location to serve the developing offshore renewables industry.

US company KBR has sold its freehold interest in the yard to Global Energy.  At the same time the Wakelyn Trust has agreed to the surrender of a lease by KBR, which originally commenced in 1972, and has entered into a new 60 year lease with Global Energy.  The leased property covers approximately 98 acres of the site including the dry dock and main sea frontage. Global Energy Group plan to create a modern, multi-user facility serving a range of energy sectors, including all oil and gas and renewables which is expected to employ 2,000 by 2015.

David Hunter, Partner at Anderson Strathern LLP, commented:

"We are delighted to have represented the Wakelyn Trust on this exciting project. Our involvment in such a major investment project demonstrates Anderson Strathern's reputation and commitment to providing top level business and strategic advice to clients across the renewable energy sector.”

A spokesman for the Wakelyn Trust said

"The Wakelyn Trust is delighted at this outcome.  Global Energy is firmly rooted in the Highlands and has a strong track record in the renewables and offshore construction sector.  The Trustees were persuaded that its plans were likely to make the most of this unique Scottish asset for the benefit of the Highlands. It has taken a lot of time and effort to secure this outcome but securing the right outcome often takes time and the Trustees now look forward to the beginning of a new and exciting chapter for the fabrication yard.”

For more information please contact:
Emma Aitken, Marketing Manager
E: emma.aitken@andersonstrathern.co.uk T: 0131 270 7791