The developer of Aberdeen’s new £330million convention complex at Bucksburn has said the project is on track to start this year although a final funding deal has yet to be confirmed.
Henry Boot said the Aberdeen Exhibition and Conference Centre (AECC) was the “largest individual project” on its books as it revealed funding negotiations for the scheme were “progressing well”.
In a statement, the firm said the project, which is pre-let to Aberdeen City Council “has made good progress” after development agreements and approval of the detailed planning permission came at the end of 2015.
Henry Boot, which was chosen as preferred developer for the facility in 2013, added: “Negotiations are progressing well with funders and our construction partner and we remain on target for the development to commence in mid-2016.”
Last month it emerged the council was planning to invest £81.6million of public money in the 12,500-capacity concert venue, which will include two hotels, an energy centre and parking.
The Sheffield-based group, which is involved in house building, property investment and development, construction, civil engineering and plant hire, said 2016 will be the busiest in its 125 years of being in business.
Chairman Jamie Boot, a descendent of the company’s founder, said: “The coming year should see us deliver more commercial development schemes than at any time in the company’s history. Our portfolio covering strategic land, commercial development and construction projects, has never been larger or as far advanced in planning terms.”
Mr Boot, who was previously the chief executive of the business, revealed a 14% increase in pre-tax profit to £32.4million in the year ended December 2015. The company’s revenue increased 20% to £176.2million in the same period. The company’s finance director, John Sutcliffe, has succeeded Mr Boot as the company’s chief executive.
“I am delighted to report a 14% increase in profit before tax to £32.4million for the year ended 31 December 2015. Once again, all our business segments performed well within a solid UK economy,” Mr Boot said.
“I have taken over as chairman with the business in excellent shape and with our people energised to deliver significant growth in activity. I look forward to reporting on progress through 2016 and beyond.”
