Thursday, October 09, 2023
Edinburgh's Prestonfield Park continues its popularity with industrial occupiers
Prestonfield Park continues to be the preferred location for Edinburgh industrial occupiers, with King Sturge securing the latest pre-let on Phase 2 of the development to The BSS Group PLC, trading as PTS Plumbing Supplies (PTS).
PTS has agreed a ten-year deal on Unit 1, Block F, which is a brand new end terrace unit that extends to 3,250 sq ft. The annual rental is £22,750 (£7 per sq ft). and the fit out is currently in progress, with an opening being imminent.
PTS is part of The BSS Group plc, which is the second largest plumbing and heating merchant in the UK with branches nationwide. The company has 29 branches situated in the major cities and towns around Scotland and this latest unit will also be used for trade counter purposes.
Commenting on the deal, Hitesh Chauhan, Group Property Surveyor of The BSS Group, said: "PTS is a growing company with a very specific property brief. We are extremely happy to secure space at Prestonfield, which satisfies our needs in terms of quality and location."
Phase 2, which is being developed on a speculative basis, has proved to be equally as popular as Phase 1, with only Units 2 & 3 in Block F remaining available. Unit 2 is 3,229 sq.ft. whilst Unit 3 is 4,897 sq.ft. and they are available separately or as a whole at £7 per sq.ft. They have already attracted strong interest with terms being issued to a single occupier.
Four other pre-lets have already been secured - 15,263 sq ft at Block D to Express Removals, 11,412 sq ft at Block E to Howden Joinery Limited, and existing phase one occupier St Andrews Timber is moving to Block H, which extends to 15,672 sq ft with a large secure yard. All of these units have now reached practical completion, whilst work is continuing on the 25,000 sq.ft. Block G, which is pre-let to the City of Edinburgh Council.
St Andrews Timber's existing stand alone 6,000 sq ft unit at Block A, Phase 1, will become available for occupation in early 2009 following their move to Block H and a full refurbishment programme. Also in Phase 1, Block B Unit 1 has recently been vacated, and fully refurbished, and this smaller unit of 3,000 sq ft. adjacent to City Electrical Factors is now available to lease, also at £7 per sq ft.
Commenting on the overall success of the development, Kirsty Palmer, Senior Associate, from King Sturge in Edinburgh said: "To receive such strong ongoing interest and to secure pre-lets from a range of high profile, national occupiers as well as established local occupiers is continuing proof that Prestonfield is satisfying demand in Edinburgh for good quality, well located industrial property."
Alistair McArthur, Senior Development Manager of Walker Group (Scotland) Ltd added: "Prestonfield Park plays a strategic role in the ongoing regeneration of the Craigmillar area. Our bold commitment to develop on a speculative basis has been rewarded by the phenomenal demand for space at the park."
Prestonfield Park has been developed by the Prestonfield Development Company Ltd, a joint venture between J. Smart & Co. (Contractors) PLC and the Walker Group Scotland Ltd. It is situated adjacent to Peffermill Industrial Estate at the end of Kings Haugh and sandwiched between Duddingston Road West and Peffermill Road to the South East of the City Centre.
Agents for the scheme are Lambert Smith Hampton and King Sturge. The BSS Group was self-represented.
PTS has agreed a ten-year deal on Unit 1, Block F, which is a brand new end terrace unit that extends to 3,250 sq ft. The annual rental is £22,750 (£7 per sq ft). and the fit out is currently in progress, with an opening being imminent.
PTS is part of The BSS Group plc, which is the second largest plumbing and heating merchant in the UK with branches nationwide. The company has 29 branches situated in the major cities and towns around Scotland and this latest unit will also be used for trade counter purposes.
Commenting on the deal, Hitesh Chauhan, Group Property Surveyor of The BSS Group, said: "PTS is a growing company with a very specific property brief. We are extremely happy to secure space at Prestonfield, which satisfies our needs in terms of quality and location."
Phase 2, which is being developed on a speculative basis, has proved to be equally as popular as Phase 1, with only Units 2 & 3 in Block F remaining available. Unit 2 is 3,229 sq.ft. whilst Unit 3 is 4,897 sq.ft. and they are available separately or as a whole at £7 per sq.ft. They have already attracted strong interest with terms being issued to a single occupier.
Four other pre-lets have already been secured - 15,263 sq ft at Block D to Express Removals, 11,412 sq ft at Block E to Howden Joinery Limited, and existing phase one occupier St Andrews Timber is moving to Block H, which extends to 15,672 sq ft with a large secure yard. All of these units have now reached practical completion, whilst work is continuing on the 25,000 sq.ft. Block G, which is pre-let to the City of Edinburgh Council.
St Andrews Timber's existing stand alone 6,000 sq ft unit at Block A, Phase 1, will become available for occupation in early 2009 following their move to Block H and a full refurbishment programme. Also in Phase 1, Block B Unit 1 has recently been vacated, and fully refurbished, and this smaller unit of 3,000 sq ft. adjacent to City Electrical Factors is now available to lease, also at £7 per sq ft.
Commenting on the overall success of the development, Kirsty Palmer, Senior Associate, from King Sturge in Edinburgh said: "To receive such strong ongoing interest and to secure pre-lets from a range of high profile, national occupiers as well as established local occupiers is continuing proof that Prestonfield is satisfying demand in Edinburgh for good quality, well located industrial property."
Alistair McArthur, Senior Development Manager of Walker Group (Scotland) Ltd added: "Prestonfield Park plays a strategic role in the ongoing regeneration of the Craigmillar area. Our bold commitment to develop on a speculative basis has been rewarded by the phenomenal demand for space at the park."
Prestonfield Park has been developed by the Prestonfield Development Company Ltd, a joint venture between J. Smart & Co. (Contractors) PLC and the Walker Group Scotland Ltd. It is situated adjacent to Peffermill Industrial Estate at the end of Kings Haugh and sandwiched between Duddingston Road West and Peffermill Road to the South East of the City Centre.
Agents for the scheme are Lambert Smith Hampton and King Sturge. The BSS Group was self-represented.
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