One of largest deals of the year
Big industrial let to Yodel in Livingston
A rent of £4 per sq ft has been agreed on a lease expiring in February 2017. Yodel has also bought the property from Edinmore Investments for an undisclosed price.
The building on the Houstoun Industrial Estate features a vehicle maintenance unit and a large surfaced yard. It was purpose-built for Scottish & Newcastle as a storage and distribution facility in 1992 when a 25-year lease was struck.
The deal was brokered by Lambert Smith Hampton, Eric Young & Co and Gerald Eve.
Ian Davidson (left), of LSH in Edinburgh represented Kuehne Nagel. He said there was strong competition for the unit because supply and demand for large industrial facilities in the central belt were out of balance.
“Both the configuration and specification of the unit are ideal for Yodel, illustrated by their subsequent purchase of the property from the landlord,” he said.
Sven Macaulay of Gerald Eve commented: “I am delighted to have sourced this property for my clients, including the off-market purchase, which provides them with another strategic asset for their business. It will help Yodel to further improve upon the first class service they already provide to their customers.”