Four large industrial units in the Cartsburn area of Greenock have purchased in a £1m deal Sandy and James Easdale.
Two industrial units and a large yard at Springkell Street have been acquired, which hosts long-term tenant Home Fix Scotland, the building and maintenance arm of the River Clyde Homes group, which is the largest social housing provider in Inverclyde.
The acquisition of an 8,500 square feet industrial unit at Arthur Street in the town has also been completed. Currently occupied by plumbers’ merchant Graham, the unit will shortly be made available to let.
The latest deals further boost the Easdale family portfolio in Inverclyde, which includes a wide variety of commercial properties.
Other key development sites in Inverclyde include the £100m regeneration of the former IBM site at Spango Valley as well as projects at Orchard Street and the proposed drive-thru at adjacent land in Cartsburn. All are currently awaiting planning approval from Inverclyde Council.
Nationally, approval has already been received for the £250m rejuvenation of the former Tullis Russell papermill in Glenrothes and plans are currently being drawn up for the transformation of the former Watt Brothers department store building in Glasgow.
The current property and construction developments being led by the Easdale family is currently estimated at more than £400million.
Sandy Easdale said: “We are pleased to be able to conclude the deal for these units which add to our existing our strategic investments in this part of Greenock. Both sites are ideally located close to the main A8 corridor through Greenock town centre and sit well within the current portfolio. These high-quality industrial units are welcome additions at a time when the industrial market in Inverclyde is in high-demand, and we look forward to working together with our new tenants.”
James Easdale said: “Our company has bought a number of commercial buildings in Greenock over the past five years, including the former Misco warehouse and Cappielow trade park. These have been solid purchases for the long-term and represent a different investment to the huge transformation projects we’re undertaking at Glenrothes, Spango Valley and the former Watt Brothers building. We want a diverse range of acquisitions and this latest deal adds to that mix.”
Marketing for the letting of the Arthur Street Industrial Unit is to be handled by Gourock-based commercial property specialists, Bowman Rebecchi.