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Friday, September 22, 2023

Recent sales at Clackmannanshire Business Park

A local joint venture between Clackmannanshire Council and Scarborough Development Group has sold a number of prime office and industrial properties at two business parks in Central Scotland.

'The Oval' and 'The Pavilions' sites at New Alloa Business Park and Dumyat Business Park comprise circa 55,000 sq ft of a mix of industrial and office units which have been sold by CSBP Clackmannanshire Investments Ltd for in excess of 3.36 million collectively, with Knight Frank and Clackmannanshire Council acting as joint agents on their behalf.

Both CSBP Clackmannanshire Investments Ltd and CSBP Clackmannanshire Developments Ltd are public/private sector joint venture partnerships between Clackmannanshire Council and Scarborough Development Group plc who are working towards successfully developing quality business accommodation on both Dumyat and New Alloa Business Parks in Clackmannanshire.

The prime business site at 'The Oval', comprising two 10,000 sq ft industrial units with additional land for development has been sold for 1.14 million to MCW Properties Limited. One unit is currently let to Scottish Furniture Distribution on a ten-year lease and both units will be used as a central location for furniture from abroad to be stored and then distributed throughout the whole of Scotland.

An office unit on 'The Pavilions' site has been sold to Beechcrest Properties Limited for a price of 850,000, reflecting a net initial yield of 7.41%. 'The Pavilions' comprises a modern self-contained pavilion finished to a basic shell, with an industrial/production fit out at ground level and office fit out at first floor level.

In addition to the current development on site at 'The Pavilions', CSBP Clackmannanshire Developments Ltd is developing a further 20,000 sq ft of high quality office accommodation which is due for completion May 2007. Clackmannanshire Investments Ltd, Clackmannanshire Council, Scottish Enterprise Forth Valley and the European Regional Development Fund are funding the development.

Rory Grant of Scarborough Development Group plc said, "We are delighted with the progress we are making in Clackmannanshire and it's extremely exciting to see another office development coming out of the ground. With many enquires coming in for industrial and office accommodation we are in the process of applying for further funding with a view to creating a critical mass on both business parks."

Both 'The Oval' and 'The Pavilions' sites are set within New Alloa Business Park - a plot of over eight acres, situated two miles west of Alloa town centre on the south side of the A907. The 25 acre Dumyat Business Park is also situated on the A907 and both parks enjoy easy access to the main Motorway network. A railway link servicing Stirling, Alloa and Kincardine is due to open in 2007 and will provide a new station in Alloa, linking it to the major cities of Edinburgh and Glasgow. In addition, the new Upper Forth Crossing is due for completion 2008.

Roddy Abram, from Knight Frank, says; "New Alloa Business Park is set in an ideal location and both 'The Oval' and 'The Pavilions' have been very well developed to provide high quality office and industrial space. There is constant demand for this type of space due to the park's central location off the A907 and the high spec finish and amenities offered by the surrounding area."

Dumyat Business Park sold to The Ashtenne Industrial Fund Limited Partnership for 1.375 million reflecting an initial yield of 8.74 per cent a modern 25,420sq ft building, equally subdivided to provide space for two separate tenants. Each building offers modern warehouse accommodation incorporating ancillary offices.

Unit 3a is let to C & G Gas (Training & Assessment) Ltd - the company provides training and assessment to the gas industry and the unit is let until 2016. Unit 3b is let until 2017 to Daniel Europe Ltd, a leading energy industry supplier.

Margaret Paterson, Leader of Clackmannanshire Council said; "I am delighted at the amount of interest that the Business Parks have attracted. The next phase of development at 'The Pavilions' will provide further business growth and investment for Clackmannanshire. The new rail links, together with the new bridge over the River Forth, will open up and enhance Clackmannanshire as an ideal environment where businesses can flourish."

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