Property developer Scarborough Group targets bigger slice of Scottish market

Property developer and investor Scarborough Group International is eyeing a bigger slice of the Scottish market to satisfy growing demand.

The group, which already has a significant land bank across the Central Belt, including a major regeneration scheme in the shadow of the Queensferry Crossing, is looking to accelerate its expansion within Scotland amid strong demand for industrial and residential space.

Bosses at the firm believe that now is the time to invest, despite the political uncertainty surrounding the prospect of another referendum on Scottish independence..

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Ross Jubin, head of SGI’s Scottish division, said: “Take-up of industrial space across Scotland reached a six-year high in 2020, bolstered by some major lettings from the likes of Amazon, Iceland Foods and Hewlett Packard. However, supply is extremely tight which presents a significant opportunity for investors and developers like us.

Ross Jubin, head of SGI’s Scottish division: 'Supply is extremely tight which presents a significant opportunity for investors and developers like us.'

“Irrespective of the future status of Scotland’s relationship with the rest of the UK, it is still a fantastic place to do business. Allied to that fact, major occupiers will continue to require a Scottish logistics hub to fulfil the growing demand for e-commerce.”

The group is behind one of the country’s largest industrial developments, Queensferry One in Rosyth, Fife. Delivered in partnership with local developer and contractor Muir Group, the development offers 500,000 square feet of distribution, logistics and office space within a 120-acre site situated adjacent to Junction 1B of the M90 motorway and Queensferry Crossing.

It was revealed towards the end of last year that the development was one of three shortlisted locations for a major new offshore wind turbine blade manufacturing plant.

Simon McCabe, chief executive of SGI, said: “We worked extremely hard on our bid to secure the [wind turbine blade manufacturing] requirement and came painstakingly close to landing it. Sadly, for reasons beyond our control, it wasn’t to be.

“While we are clearly very disappointed with the outcome, there are a number of other large occupier requirements yet to be satisfied across the Central Belt of Scotland and Queensferry One is extremely well-placed to capitalise on these.”

He added: “Real estate development, whether commercial or residential, will play a key role in the UK’s post-Covid recovery.”

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