£3m Asda deal tops Scots industrial sales
Mission complete: Asda sale is biggest in Scotland
The former Grangemouth warehouse of supermarket chain Asda has been sold to logistics and construction conglomerate WH Malcolm in Scotland’s largest industrial property deal of 2017.
Colliers International acted for Asda in the deal, which saw the 260,000 sq ft building by Junction 6 of the M9 sold on a freehold basis for around £3 million.
Colliers has now completed the disposal of all former Asda sites in Scotland, which were superseded by the giant new Scottish Distribution Centre it has built on the other side of the M9. The smaller of Asda’s two vacant Grangemouth warehouses were sold last year to whisky giant Whyte & Mackay.
Iain Davidson, director, industrial and logistics at Colliers international in Scotland, said: “The purchase price of around £3m is a great result for our client and a positive deal all round, especially for the local economy, as both the old sites will soon be in full use alongside Asda’s new 500,000 square foot distribution centre.”
Norman Pollock of Pollock Property Advisors acted for buyer WH Malcolm, also known as the Malcolm Group. He said the warehouse was now likely to be used for the storage of spirits related to Scotland’s whisky industry.
Mr Pollock said: “Industrial units of this size do not come onto the market often. As the Malcolm Group takes over the site as part of its support for Scotland’s highly successful drinks sector, it is likely to bring jobs to the area.”