CBRE has brokered a £72 million pre-construction forward funding commitment between a US based investor and Newlands Developments, in association with Tulchan Development, enabling the speculative delivery of a new industrial and logistics development at Eurocentral.
The commitment is said to represent the largest speculative forward funding deal for an industrial and logistics project in Scotland for 30 years.
The investment will unlock the delivery of Orchard Park, a 40-acre site located within the Eurocentral estate. The development will deliver 353,000 sq ft of Grade A accommodation across five units of varying size, with bespoke design options also available. Development is scheduled to start early next year with practical completion targeted for Q2 2028.
Bryce Stewart, senior director at CBRE and Iain Davidson, director at Colliers, are the retained letting agents on the scheme.
Stephanie Bishop, development director at Newlands Developments, said, “This is a significant milestone for Scotland’s industrial and logistics market and a strong vote of confidence in the sector from one of the world’s leading real estate investors. We are delighted to be investing in Scotland again alongside our Glasgow-based delivery partner, Tulchan Developments. We believe this investment will attract significant occupiers who require top quality buildings available in the immediate future. It will reinforce Scotland’s position as an increasingly important destination for industrial and logistics investment.”
Douglas Steele, associate director at CBRE, added, “We are very pleased have brokered a transaction of this scale and significance, bringing a much-needed injection of capital into Scotland’s industrial and logistics sector. The deal reflects the growing international recognition of the opportunities within the country’s I&L sector. Orchard Park will be central in building that momentum, delivering high-quality, strategically located space that can help address occupier demand and set a new benchmark for industrial development in Scotland.”
