'Sustainable' industrial building in Central Belt acquired in off-market £11 million deal

A warehouse unit at Eurocentral next to the M8 motorway has been acquired by a private investor for some £11 million.

The “state-of-the-art” property, which extends to 43,598 square feet, is let to Scania on a 15-year deal to form its Scottish headquarters and warehouse facility. The unit has been developed by West Ranga Property Group.

Property adviser Knight Frank represented the private buyer in the off-market deal and Lismore Real Estate Advisors acted on behalf of West Ranga Property Group.

The building is said to be among the most sustainable industrial sheds in Scotland, hosting a range of energy efficient features including an air source heat pump system, electric vehicle testing and charging, photovoltaic panels and “high-performance” windows to maximise natural daylight.

A state-of-the-art warehouse unit at Eurocentral in Scotland’s Central Belt, let to the Swedish commercial vehicle manufacturer Scania, has been acquired off-market by a private investor.

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Euan Kelly, capital markets partner at Knight Frank Edinburgh, said: “This asset was a relatively rare opportunity to acquire a prime industrial unit at Scotland’s top logistics hub.

“This is a unique property secured on a long-term lease with good prospects for rental growth in a sector that is firing on all cylinders – not only in Scotland, but across the UK.

“The building will also have outstanding green credentials, at a time when sustainability and energy efficiency are very much front of mind for investors.”

Scott Hogan, head of Scotland industrial and logistics at Knight Frank, added: “Across the Central Belt there is a relative lack of good quality Grade A industrial accommodation offering superb green credentials. Sustainability of warehousing is becoming increasingly important for occupiers and investors alike.”

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