Eurocentral warehouse unit sold for around £11 million

A warehouse unit at Eurocentral in Scotland’s central belt, let to the commercial vehicle specialist Scania, has been acquired off-market by a private investor for around £11 million.

The 43,598 sq. ft. property has been let to Scania on a 15-year deal to form its Scottish HQ and warehouse facility. The property has been developed by West Ranga Property Group.

Knight Frank represented the buyer and Lismore Real Estate Advisors acted on behalf of West Ranga Property Group.

The building is described as being amongst the ‘most sustainable sheds’ in Scotland, boasting features including an air source heat pump system, electric vehicle testing and charging, photovoltaic panels, and windows which maximise natural daylight.

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 is increasingly important for occupiers and investors alike.”