Shepherd sells eight acre industrial and distribution headquarters site in Newhouse

Shepherd Chartered Surveyors has sold the substantial former Anderson Group industrial and distribution headquarters site in Newhouse to a private investor.

Located a short distance south east of the Newhouse Junction of the M8 Motorway, which provides direct access to the A73 Carlisle Road and the B7066 Glasgow and Edinburgh Road, the site provides excellent connectivity and strategic central location.

The eight acres site is unique and offers excellent yardage and a variety of office, workshop and warehouse accommodation amounting to 50,000 sq ft.

Steve Barnett, managing partner at Shepherd, said: “Interest in this unique opportunity was strong and, as this deal illustrates, industrial property is very much in demand in  West/Central  Scotland at present.

“Industrial stock has continued to perform well, partly due to occupiers seeking additional space as a result of the recent expansion of e-commerce, but also through the change in vacant rates liabilities a number of years ago which led to a significant amount of dated industrial stock being demolished and developed for alternative uses, thereby reducing supply at a time when demand has been rising.

“Add in the additional stock-piling requirements as a result of Brexit coupled with limited speculative development over recent years, demand has outstripped supply, resulting in a rise in rents and capital values as the level of ‘take up’ increases.”

Anderson Group Chairman Irvine Anderson added: “I have been delighted with Shepherd’s partner-led approach, range of professional quality advice and expert-led service which, coupled with  their comprehensive local market knowledge, has enabled the swift conclusion of this deal to the satisfaction of both vendor and purchaser.”

The headquarters site had been marketed at offers over £1.5m.

ENDS

For further information please contact Steve Barnett on tel 0141 331 2807