Two of the most prominent office buildings alongside the M8 at Hillington Park have been sold as part of a strategy to develop, and invest in, industrial and logistics building stock on the estate.
The sales of Merlin Business Centre and Carlson House, in separate deals, will see the proceeds immediately reinvested in the new Hillington West 100 & 200 scheme, which are set to bring over 130,000 sq ft of new commercial industrial space to the market in Spring 2022.
Grant Edmondson, Commercial Director at Hillington Park said: “Hillington Park has been at the heart of Scotland’s industrial sector for over 80 years and continues to attract businesses seeking high quality commercial units. The strategic decision to dispose of Merlin Business Centre and Carlson House, allows Frasers Property to focus on building a high quality industrial portfolio at Hillington Park where we see the greatest potential demand and opportunity.
“Over the last 6 months we have also committed £1m to completely refurbish three very dilapidated industrial units on the estate that resulted in improved Energy Performance Certification and substantially expanded the yard space, further illustration of its strategy to provide the quality of accommodation that occupiers now demand.”
Merlin Business Centre was sold to Manchester-based Property company MCR Group and Carlson House to a private client of Burns Property Consultancy. Ryden and Brodies LLP acted for Frasers Property on both transactions.