Four new industrial units are to be developed at Abbotsford Industrial Park in the Falkirk area following a £1.3 million investment from Falkirk Council. The speculative units range in size from 2,500 sq ft to 5,000 sq ft and will be available from early 2015.
This latest expansion is the first time that speculative development has taken place at Abbotsford Business Park, but it is anticipated that demand will be strong due to short supply for units of this size currently available in the Falkirk area.
The development of the units is being undertaken through external funding, as well as equity raised from Falkirk Council’s portfolio management plan (PMP), which involves the selling of non-essential Council-owned buildings. Between 2012 and 2013, the PMP delivered more than £1m from the sale of such properties.
This revenue is being used to support wider property and economic development in the local area to reinvest in new sites that are more attractive to current market requirements. In addition to Abbotsford Business Park another key development for Falkirk Council was the expansion of seven industrial units at Central Business Park in Larbert.
Falkirk Council’s current commercial and industrial property portfolio provides accommodation for nearly 500 businesses throughout the area and is approximately 95 percent let.
Councillor Dennis Goldie, Falkirk Council’s spokesperson on Economic Development said: “Our property strategy is generating significant sums of cash through the portfolio management plan, which allows us to reinvest in new or existing properties to offer real facilities that businesses need.
“With our expanding property portfolio we’re always looking at market requirements to attract new commercial tenants and businesses and have an expert team that can help with expansion or relocation.”
Abbotsford Business Park (approximately 18 acres) was formerly a British Aluminium works, locally known as Alcan. It is owned by Scottish Enterprise and has been developed in a joint partnership with Falkirk Council to create a successful business park that attracts commercial and industrial tenants and investors to the local area. Its close proximity to the M9 and the national motorway network make it a very attractive location.
