Commercial Property News

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Thursday, May 03, 2023

Syndicate invests 26m in Phase Two of Hamilton International Park

The expansion of Hamilton International Park (HIP) is gathering pace with the announcement of the sale of two buildings.

A Chancery partnership investor syndicate has purchased the properties - the 24,000 sq ft Fenick House and 39,000 sq ft Fintry House, for a combined total of 26million.

HFD Developments, who bought its joint venture partner AWG Property out of their interest in the Park earlier this year, are delighted with the early success.

William Hill, managing director of HFD Group, commented: "We are extremely pleased that the sales of Fintry and Fenick houses have been completed. HIP and its sister park Strathclyde Business Park (SBP) are widely accepted as the most sought after business park locations in central Scotland and the sale is testament to the outstanding investment potential of both Parks.

"Investment sales have now reached 131.5m at Hamilton International and, despite the expansion of nearby competitors such as Eurocentral, we believe we are in a strong position to maintain our competitive advantage over our rivals."

With a current workforce of over 4,000, HIP has been experiencing significant growth over the last few years and the construction of over 1,000 new homes in adjacent Westcraigs further indicates the levels of investment and growth the area is experiencing.

Lambert Smith Hampton represented the Chancery Partnership, and HFD Developments were self-represented.