Thursday, September 17, 2023
Cambuslang industrial warehouse sold for £4.7m
The Keiller Group has sold distribution warehouse known as Nexus, Drumhead Road, Cambuslang, to construction business CCG Group for £4.7 million.
Jones Lang LaSalle's industrial team handled the sale. The facility, which extends to 84,000 sq ft, is on an eight acre site.
The deal is thought to be one of Scotland's largest and most significant industrial sale transactions of 2009.
Crawford Geddes, from The Keiller Group said: "An opportunity arose to achieve a sale at an acceptable figure, to a locally based company who were in a position to finalise the transaction within a fairly tight timescale."
Alastair Wylie, the Managing Director of CCG Group, said: "We were assessing options for creating a new facility and were keen to consolidate our operations within the Cambuslang Investment Park. An opportunity arose to buy a quality building, which met many of our specific requirements, at a figure substantially below what it would of cost to build from new. The timescales involved also suited our group, allowing us to bring forward our plans to expand our off-site manufacturing division from a strategic Glasgow base."
Neil Cockburn of Jones Lang LaSalle, who handled the sale, said: "Following the demise of the previous tenant, we were able to identify fairly quickly a purchaser who was actively looking for additional space to grow and expand their various businesses within the group, ideally in the Cambuslang area."
Jones Lang LaSalle's industrial team handled the sale. The facility, which extends to 84,000 sq ft, is on an eight acre site.
The deal is thought to be one of Scotland's largest and most significant industrial sale transactions of 2009.
Crawford Geddes, from The Keiller Group said: "An opportunity arose to achieve a sale at an acceptable figure, to a locally based company who were in a position to finalise the transaction within a fairly tight timescale."
Alastair Wylie, the Managing Director of CCG Group, said: "We were assessing options for creating a new facility and were keen to consolidate our operations within the Cambuslang Investment Park. An opportunity arose to buy a quality building, which met many of our specific requirements, at a figure substantially below what it would of cost to build from new. The timescales involved also suited our group, allowing us to bring forward our plans to expand our off-site manufacturing division from a strategic Glasgow base."
Neil Cockburn of Jones Lang LaSalle, who handled the sale, said: "Following the demise of the previous tenant, we were able to identify fairly quickly a purchaser who was actively looking for additional space to grow and expand their various businesses within the group, ideally in the Cambuslang area."
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