Clydesmill Industrial Estate in Cambuslang has been purchased by asset managers Kames Capital for £4.975m, whilst Vista Point, an industrial unit at Hamilton International Park has been sold to South Lanarkshire Council for £2.45m.
The 100,000 sq ft multi let industrial estate in the South Lanarkshire town of Cambuslang is currently fully let and occupied by nine tenants, including Jewson, Highland Industrial Supplies, Geze UK, Rhodar and Youngman.
The sale of Vista Point comes four months after the firm completed an extensive refurbishment programme at the site, which is situated in a prime location within the business park on Livingstone Boulevard and extends to 50,210 sq ft which includes secure yard space and private car parking.
South Lanarkshire Council intend to operate their fleet support service from the new location, and will occupy the popular Hamilton business park alongside First Engineering, Centrica and Scottish & Universal Newspapers.
Cameron MacKay, associate at Buccleuch Property said: “Having held the property at Cambuslang since 2008, we had completed our asset management and took the opportunity to realise a strong sale. With the market improving, the sale of Clydesmill Industrial Estate and Vista Point will allow us to invest in new investment and development opportunities across Scotland and the rest of the UK.”
Ross Sinclair of FG Burnett commented on the sale: “We are delighted to have identified a purchaser for Vista Point so early on in the marketing process and to have finalised the sale so quickly is testament to all parties involved. The Clydesmill experience for Buccleuch Property reinforces the importance of careful stock selection when investing. Despite acquiring and owning during the market crash, Clydesmill delivered strong income returns throughout their ownership, with virtually zero void during that time, which is no mean feat and a real testament to both the quality of the asset and the skill of the team at Buccleuch Property.”