A property investment and development company owned by butcher and entrepreneur Simon Howie has snapped up a major distribution unit at Livingston from retail giant Tesco.
The 186,000 square foot facility sits on a site extending to 18 acres next to the M8 motorway and is currently leased to delivery business DHL until 2023 with a tenant break in 2020. The price paid by Howie’s Rossco Properties has not been disclosed.
Howie said: “This acquisition represents a very interesting asset management opportunity for Rossco. There are a few fundamentals that attracted me to this opportunity – the visibility to the M8 and proximity to junction 3/3a, the cross-docking, the generous 12-metre eaves height and substantial yard.
“We look forward to working alongside DHL on this asset, which also features extensive refrigeration internally.”
Eric Young & Co acted for Tesco on the deal, while Rossco represented itself.
Rossco Properties holds an investment portfolio of some £50 million, primarily in trade parks and industrial properties. It has undertaken a number of developments, most of which have been retained as investments.