Commercial Property News

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Friday, November 18, 2023

New Ryden let at Longman Industrial Estate in Inverness

Ryden has successfully let 3 Harbour Road on the Longman Industrial Estate in Inverness to leading supplier of insulation, roofing and commercial interior products, SIG Trading Ltd. This will be SIG's entry into the Inverness/Highland market as they continue their expansion throughout the country.

The warehouse unit, which extends to 13,034 sq ft, was let by Upland Developments Ltd to SIG Trading Limited on FRI terms for 15 years at 65,000 per annum reflecting 5 per square foot overall. Ryden acted for Upland Developments Ltd and SIG Trading Ltd were represented by CRCL, an English Agent.

Ryden has also concluded an assignation of the lease on Unit 4, 51 Seafield Road on the Longman Industrial Estate to Highland Industrial Supplies, a local wholesaler who has branches throughout the Highlands and whose main base is located on Seafield Road. This will allow further growth of the company's Inverness operations.

The warehouse unit, which extends to 4,015 sq ft, was assigned from Home Shopping Network (UK) to Highland Industrial Supplies and at the same time the rent review was agreed at 22,000 per annum reflecting approximately 5.50 per square foot. Ryden acted for Business Express/Home Shopping Network (UK) and Highland Industrial Supplies represented themselves.

Andrew Wilson of Ryden's Inverness office comments: "These transactions continue to demonstrate the popularity of the Longman Estate as the prime industrial location in Inverness with rental levels comparable with the other major Scottish cities".