WORK has completed on the first unit at the £35 million Capital Park urban logistics and trade park development in Sighthill, Edinburgh.
The bespoke 15,720 sq ft unit will be occupied by builders’ merchant Travis Perkins. The site is now open and trading after the company agreed a 15-year lease on the unit, which also has a 50,000 sq ft self-contained yard area for storage of building materials.
Located on Bankhead Avenue, Capital Park is being jointly delivered by urban logistics developer Chancerygate and Bridges Fund Management.
This is the first unit to achieve practical completion at the site, which will comprise 18 new build leasehold units ranging from 2,770 sq ft to 45,980 sq ft. These units will be available for occupation later this year. Two further units are currently under offer, meaning 30% of the development is either let or under offer.
Units at the development will benefit from EV charging points, low air permeability design and solar cells on the roofs. In addition, they will be constructed from ‘high-performance’ insulated cladding and roof materials to reduce CO2 emissions. The scheme is targeting an EPC A and BREEAM Very Good/Excellent rating.
Mike Walker, Chancerygate development director, said, “We are happy to deliver a mix of Grade A urban logistics and trade counter space to serve the increasingly active and dynamic SME sector in the city. Capital Park’s strategic location will appeal to a number of sectors as evidenced by the pre-let to Travis Perkins and the strong interest we are seeing in the remaining units. This is undoubtedly one of the best trade locations in Edinburgh.
“With demand for this type of accommodation increasing, we anticipate more units to go under offer and look forward to welcoming further occupiers to the scheme in due course.”
Bridges Fund Management is a specialist sustainable and impact investor. Its property funds focus on sectors that support the transition to a more sustainable and inclusive economy, including healthcare, lower-cost housing and sustainable logistics.
Bridges partner Guy Bowden added, “We’re excited to bring forward this scheme at Capital Park, which we believe will support new jobs and make a positive contribution to the regeneration of the local area. The completion of this first unit is an important milestone for the development, and highlights the growing demand among SMEs for purpose-built, highly sustainable industrial space.”
Shaun Kemp, branch manager at Travis Perkins Edinburgh West, said, “This move is part of our ongoing development of larger and more capable destination branches within our network, aimed at consistently delivering superior service to our customers. Opening this new branch underscores Travis Perkins’ commitment to enhancing customer access to a vast array of tools and materials, ensuring they have everything they need to complete their projects efficiently and to the highest standards.”
Agents for Capital Park are JLL and Ryden.
