On behalf of Wincanton plc, international real estate advisor Savills has agreed to let a 95,513sq ft (8,873 sq m) warehouse at Eurocentral, Glasgow from Kennedy Wilson for a new distribution centre in Scotland.
Wincanton, the largest British logistics company, has signed a new five-year lease on Colossus 1 paying an initial headline rent of £485,017 per annum.
David Cobban, director in the business space team at Savills Scotland, comments: “Eurocentral is a large, mixed-use business park located 11 miles to the east of Glasgow and one of the main logistics hubs for Scotland. Colossus 1 will allow Wincanton to provide continuity of service to one of their key accounts in Scotland and provide them with the opportunity to consolidate inventory. With a dearth of good quality, sizeable warehouses in Scotland and a lack of stock now viewed as critical we are pleased to have secured this unit on Eurocentral and the location is set to serve Wincanton well.”
Ian Henderson, group property director at Wincanton, adds: “As a business, we are constantly reviewing our property portfolio to ensure we are gaining best value from our assets. This is a significant new site for us which will deliver value for our customers across Scotland and beyond.”