Drum Property Group said it has submitted plans to expand its Prime Four Business Park at Kingswells, Aberdeen, with a £100 million investment in a new adjacent retail park that would create 500 jobs.
Drum submitted an application to the City of Aberdeen Council for a 320,000 square feet retail development next to Prime Four.
Drum said that subject to planning consent, retailer Next would be the first store to move in to the retail park, with another high street brand to confirm shortly.
Graeme Bone, group managing director of Drum Property Group, said: “We are very excited about the potential the retail park could bring to the city and wider area.
“As well as jobs, new services and retailer brands, a development of this size will have a significant positive economic impact on the area at a very challenging time for the North East economy.
“The calibre of development proposed will ensure Aberdeen maintains and enhances its status as the principal shopping location in the North East.
“We look forward to working with the City Council in developing our plans for the expansion of Prime Four and making this substantial investment a reality.”