WH Malcolm has purchased a former Asda warehouse in Scotland’s largest industrial property deal of 2017.
The logistics and construction business has snapped up the 260,000 square foot building in Grangemouth in a deal for around £3 million.
Norman Pollock of Pollock Property Advisors acted for WH Malcolm. He said the warehouse was likely to be used for the storage of spirits. He said, “We are delighted to have secured this large unit on a freehold basis for our client, as industrial units of this size do not come onto the market often. As the Malcolm Group takes over the site as part of its support for Scotland’s highly successful drinks sector, it is likely to bring jobs to the area.”
Colliers International acted for Asda in the deal. Iain Davidson, director, industrial and logistics at Colliers international in Scotland added, “We are pleased to have completed this disposal strategy on behalf of Asda. The purchase price of around £3 million is a great result for our client and a positive deal all round, especially for the local economy, as both the old sites will soon be in full use alongside Asda’s new 500,000 square foot distribution centre.”