‘Outstanding and rare’ opportunity to buy major Scottish business park for £9.25 million

A Scottish business park housing two dozen units has hit the market for £9.25 million in what is being described as a “rare investment opportunity”.

Lismore Real Estate Advisors has brought Langlands Business Park in East Kilbride, extending to almost 148,000 square feet over the 24 units, to the market. It noted that the estate occupies a substantial 20.5-acre site and provides a “diversified income stream” from a range of occupiers, including Socotec UK, Busch (UK) and Quartztec Europe. The site also offers 1.44 acres of potential development land.

Currently 87.5 per cent occupied, the business park generates a triple net income of £912,242 per annum, with property experts highlighting “significant scope to enhance value” through upcoming rent reviews, leasing initiatives and future development potential.

An aerial view of Langlands Business Park, East Kilbride.

Simon Cusiter, a director at Lismore Real Estate Advisors, said: “This represents an outstanding and rare opportunity to acquire a multi-let industrial investment in one of Scotland’s most established industrial and distribution locations.

“Langlands Business Park offers an attractive day-one income return, supported by a diverse tenant base, alongside significant opportunities to capture rental reversion, improve occupancy and unlock further value through future development.”

Langlands Business Park is situated some 12 miles south of Glasgow. The estate is said to benefit from a strategic position some seven-and-a-half miles from junction six of the M74. It forms part of the established Langlands and Kelvin South Business Parks area and is located close to supermarket giant Sainsbury’s 200,000 sq ft logistics hub.

Research released last month by Lismore revealed that Scotland’s retail warehousing was a “sector in demand”, despite challenging market conditions.

The latest investor research from the firm pointed to “limited supply and resilient demand” as being the leading driver of rental growth for retail warehousing over the next few years.

Lismore’s quarterly poll of investors highlighted a preference for food store operators being in the tenant line-up which will be an important platform for retail warehousing performance, with 62 per cent of respondents selecting the category.

The report was published as several large-scale speculative developments aimed at the industrial and logistics warehousing markets push ahead.