Wednesday, April 19, 2023
Arlington Securities acquires Etna Industrial Estate in Motherwell
Arlington Securities, one of Europe's leading independent property services and investment management businesses, advised by NAI Fuller Peiser, has completed the purchase of Etna Industrial Estate in Motherwell, Lanarkshire, Scotland, on behalf of an investment client for £1.85m, reflecting a 7.5% net initial yield. The former SDA industrial estate was purchased from HXRUK, and totals 43,000 sq ft (3,995 sq m) of industrial/warehouse accommodation with generous yardage/parking. Ryden advised HXRUK.
Bill Binnie, investment consultant at NAI Fuller Peiser's Edinburgh office, comments: "Etna Industrial Estate offers strong potential for short-term rental growth. It is strategically located adjacent to the proposed redevelopment of the former Ravenscraig Steel Works site, one of Europe's largest urban regeneration projects. The Ravenscraig scheme will create a new town centre totalling almost 300,000 sq m (3,229,173 sq ft), which will transform the surrounding area and will we believe drive forward rental levels in the area."
Bill Binnie, investment consultant at NAI Fuller Peiser's Edinburgh office, comments: "Etna Industrial Estate offers strong potential for short-term rental growth. It is strategically located adjacent to the proposed redevelopment of the former Ravenscraig Steel Works site, one of Europe's largest urban regeneration projects. The Ravenscraig scheme will create a new town centre totalling almost 300,000 sq m (3,229,173 sq ft), which will transform the surrounding area and will we believe drive forward rental levels in the area."
<< Latest news main page