KNIGHT Property Group has acquired a prominent Bellshill industrial building in an ‘off market’ transaction.
Extending to 143,700 sq ft, together with a fully sprinklered mezzanine floor of approximately 85,000 sq ft, the property – known as The Big Blue Shed – will now be refurbished.
The building occupies a six-acre site within Bellshill Industrial Estate and is described as offering a ‘significant opportunity’ for occupiers seeking e-commerce, logistics or clothing distribution space.
The detached warehouse and industrial facility will be rebranded. Knight Property Group will undertake a refurbishment programme to reposition it to meet the expectations of modern occupiers. The works will include upgrades to the external walls, roof and wall cladding. There will also be improvements to the external concrete yards and surfacing, full internal redecoration, along with the refurbishment of the office and welfare facilities. The refurbishment is scheduled for completion in Q4 this year.
Howard Crawshaw, MD of Knight Property Group, said, “Having successfully delivered several speculative new build developments and refurbishment projects across this area, we are proud to continue investing in Lanarkshire’s business landscape with the acquisition of this landmark building. With continued demand for premium logistics and warehouse space, combined with a limited supply of high-quality accommodation, this property represents an excellent opportunity for businesses looking to establish or expand their presence in central Scotland.”
Graham + Sibbald and Ryden have been appointed as letting agents on behalf of Knight Property Group.
Yan Stewart, director at Graham + Sibbald, added, “Knight was able to move quickly on this ‘off-market’ acquisition, with the sellers keen to place the building with a purchaser capable of delivering on its vision for the asset. Their proven track record in delivering high-quality, well-specified industrial accommodation gives the market real confidence that the property will be rebranded and repositioned to meet modern occupier requirements and attract strong interest from industrial, logistics, e-commerce and warehouse operators, upon completion.”
