Commercial Property News

Our magazines are published bi-monthly with in-depth features and news for the commercial property industry. On this page we have the latest news to keep you constantly updated on the market. On the left hand side of the page you can search our archived news which is stored monthly.

Friday, March 24, 2024

Highcross buys Westfield North Courtyard, Cumbernauld, for £5.5m

Highcross, advised by Jones Lang LaSalle, has completed the purchase of Westfield North Courtyard, Grays Hill Road, Glasgow for £5.55m reflecting a 7.1% net initial yield.

The multi-let industrial estate, located less than two miles from the Mollinsburn Interchange, comprises 22 units constructed in eight blocks around two courtyard areas. The development totals 150,000 sq ft (13,935 sq m) and tenants include Kent Pharmaceuticals, Laddaw Limited and SAS Holdings.

Highcross plans to make each of the 10 vacant units ready for immediate occupation, and will be applying a flexible approach to lettings at competitive rental rates.

Jones Lang LaSalle represented Highcross while Collingwood Rigby advised the vendor. Jones Lang LaSalle and Graham and Sibbald have been retained as letting agents on behalf of Highcross.