Buccleuch Property has sold a 56,508 sq. ft production and warehouse facility at Atlas, Centralpoint near Glasgow, for £4.575m. The industrial site was sold to Broomford Holdings reflecting a net initial yield of 6.4%.
Buccleuch purchased the vacant warehouse in September 2014 and following the completion of a £320,000 yard extension, Buccleuch secured Hermes on a 15 year lease with a 10 year break. The consumer delivery specialists went on to complete their own internal fit-out and added two further loading bays.
Lucy Duff, Associate Director at Buccleuch Property, commented: “There is strong demand for high quality, well located, distribution space and this was reflected in the significant levels of interest we received for this property.
“The Atlas facility offers a perfect example of Buccleuch Property’s full portfolio of skills, from successfully asset managing the site, to securing a tenant and finally putting it to market.
“We continue to actively seek new investment and development opportunities of this nature across the UK.”
Located by the A8/M8, the Centralpoint estate is conveniently situated 15 minutes from Glasgow and 30 minutes from Edinburgh. Both international airports can be reached in 30 minutes from the site and the air freight terminal at Prestwick is within a one-hour drive. Other occupiers at the site include Eddie Stobart, FedEx, Morrisons and Wincanton.
Agents Colliers acted on behalf of Buccleuch Property for this sale.