Colliers’ Speedy Move Marks Large Warehouse Letting

Colliers International, on behalf of John Menzies Plc, has let 85 Fullarton Drive, Cambuslang to Speedy Asset Services Limited, in what is one of Scotland’s most significant industrial deals in the last year or so. The 61,184 sq ft (5,684 sq m) warehouse and offices, which also includes a substantial yard, sees the equipment and tool hire company take a 10-year full repairing and insuring lease. The agreed rental terms are undisclosed, however, the quoting rent was £325,000 per annum.

The property, which is located at Cambuslang Investment Park, was until recently occupied by Menzies Distribution Limited, the wholesale newspaper and magazine distribution division of John Menzies Plc.

Iain Davidson, Director of Industrial & Logistics at Colliers International in Glasgow, said: “We were aware of Speedy’s outstanding requirement for a new Glasgow hub and acted quickly to advance negotiations and reach an acceptable deal for both parties. Fullarton Drive is an excellent location with superb transport links and visibility from the M74 motorway. These factors, together with the building’s generous yard, drew Speedy to the property, despite other available options. We are delighted to have secured a letting to such a well-established company.”

Colliers International represented John Menzies Plc. Stephen St Clair of Knight Frank acted for Speedy Asset Services Limited.