Knight Property Group has concluded a 50,000 sq ft deal at the first phase of Belgrave Logistics Park, in Bellshill, North Lanarkshire.
The £55m brand new speculative development on the site of the former Devro manufacturing facility is being developed over three phases, to provide 261,193 sq ft over five buildings. The first two phases were completed in November 2022, with the final phase scheduled for completion in September this year.
Likewise Group Plc, one of the UK’s largest and fastest growing distributors of floor coverings and matting, has agreed a 20 year lease on Unit D, which extends to 50,013 sq ft. The Group started trading in 2019 and is relocating its Scottish distribution centre from Motherwell to Belgrave.
Over the past two years, the Group has made major investment in the infrastructure with new operations in Leeds, Newcastle, Birmingham and Newbury, with the new Glasgow base being fully operational in quarter two of this year.
Tony Brewer, Chief Executive of Likewise Group Plc said:
“We have made significant progress on expanding our sales teams and point of sale displays to expand and create a much greater market presence. We remain focussed on accelerating growth and delivering a return on this investment.
“We are very pleased with our new facility at Belgrave which provides high-quality space in an excellent accessible location. It provides the ideal base for our expanding Group and will help achieve our business objectives.”
Howard Crawshaw, Managing Director of Knight Property Group added:
“We firmly believed Belgrave Logistics Park would be a success and would attract strong interest and quality tenants from the outset and this deal reinforces our strategy of developing high quality speculative product in prime locations.
“Occupier interest has been excellent for the remaining units, with several discussions ongoing and we have now commenced the final phase, a 126,960 sq ft unit, which will be completed in September this year.”
Belgrave is one of the greenest industrial/logistics parks in Scotland at the current time. Each building is ‘all-electric’ and has an EPC rating of ‘A +’ and has a BREEAM ‘excellent rating’, in line with occupier and investor expectations.
It is in the heart of Scotland’s ‘golden triangle,’ within the popular Bellshill Industrial Estate. It offers excellent transport links and quick access to the A725 dual carriageway which provides direct access to the M8 motorway between Glasgow and Edinburgh and the M74 which is Scotland’s main road link south. Glasgow international airport is only 25-minutes’ drive west via the M8 motorway and Edinburgh international airport is only 40-minutes’ drive east.
Alan Gilkison, Managing Partner of Ryden said:
“This is a bold and ambitious project from Knight, who have gained the reputation for investing and delivering quality speculative developments in key geographical areas. This project has already secured quality occupiers and is generating significant interest for the remaining space. It will provide Knight with the results they deserve.”
Ryden and JLL are agents for Knight Property Group.
The project architect was SPACE Solutions’, with the developers being Muir Construction (for Phases 1 & 2) and Clark Contracts (for Phase 3).