West of Scotland industrial estates sold in £4.4m deal

COMMERCIAL property investor Shed5 has acquired a portfolio of industrial estates across the west of Scotland for nearly £4.4 million.

The deal includes three properties: Riverpark Industrial Estate in Linwood, 22-28 Carmyle Avenue in Cambuslang, and Whitegates Industrial Estate, close to Kirkintilloch town centre.

Riverside is the biggest of the three, and comprises 24 units across more than 150,000 square feet of commercial property.

The acquisition comes shortly after Shed5 acquired Carntyne Industrial Estate, which spans around 100,000sqft and is close to the M8 and M74 motorways, in the east end of Glasgow, for £3.5m.

Jamie Addison-Scott of Galbraith, which advised Shed5 on both deals, said: “The acquisition of this portfolio satisfies our client’s investment criteria as well as providing diversity via the location of the industrial estates. Shed5 were able to act decisively on this off-market acquisition and are eager to engage with the tenants in carrying out their asset management strategy.”

The name of the selling company was not disclosed.

The Herald Scotland

The Herald Scotland

The Herald is a Scottish broadsheet newspaper founded in 1783. The Herald is the longest running national newspaper in the world and is the eighth oldest daily paper in the world. The title was simplified from The Glasgow Herald in 1992