60-acre Dalkeith industry site looks for customers

By Jim Dow

SALTER'S Park, close to the about-to-be-completed Dalkeith by-pass, has just come on the market - and at 60 acres, it is the biggest piece of industrial land to do so in the Edinburgh area for a number of years.

At a time when the Edinburgh area is described as being chronically short of industrial space, the Buccleuch Property development is already attracting interest.

Nick Waugh, commercial property director at Buccleuch, says: “It is early days, but we are very pleased with the level of interest now that we have got some marketing material out there and have done our market research.”

The park has individual plots available from 0.25 acres to more than ten acres, with Ryden and Coates & Co the agents.

David Fraser, who joined Ryden in June as a partner

specialising in the industrial and distribution sector with a focus on development, laments the “massive” shortage of industrial land in Edinburgh.

He says many brownfield sites have been taken out of the market for residential or office use and the City of Edinburgh Council had done nothing to replace the possible sites that are now part of Edinburgh Waterfront.

Fraser, who joined Ryden from Cushman & Wakefield, where he was head of industrial property in Scotland, says the lack of space in Edinburgh was pushing companies out to Midlothian and West Lothian.

He went on: “With rents rising, it is very difficult for small firms to remain in the city, where rents are £7.50 to £8. In Midlothian, at Bilston, you can get £5.50 to £6 and in West Lothian you can get £4 to £4.50 and new-build for £6.

“I can give you a list as long as

my arm of people wanting to buy their own premises, but there is nothing for them in Edinburgh. I think the public sector should be doing more to supply industrial land. Midlothian has been quite proactive in this respect and Bilston Glen has been a great success. Up until last year there was only one site in Edinburgh where you could get bespoke lNDand that is now full.

“Edinburgh has done noting to replace the land that has gone for other uses. Industrial is the unsexy, low-value part of the market.”

Fraser feels that the general market downturn is not as bad as down south. “The industrial market is still quite robust up here. We are quite positive. We are busy. We are not sitting around crying into our cups of tea.”

No rents have been decided yet for Salter’s Park, the intention being to sell the sites.

T&A given key role at Quartermile

THOMAS & Adamson, the construction and property consultancy, has been appointed cost manager for Gladedale Capital’s Quartermile scheme, the site of the former Edinburgh Royal Infirmary, writes Stewart McIntosh.

T&A’s role includes a 69-unit residential development; a 107-bed aparthotel, to be called Veridian; and Quartermile Two, the development’s central square which will comprise 52,500 sq ft net of office space and 8,000 sq ft of retail. The projects are due for completion next year.

Morton Fraser Solicitors has taken a pre-let of four floors in Quartermile Two, while the French aparthotel operator Citadines, part of the Singapore-based Ascot Group, will move into Veridian.

Brian Donaldson, partner at Thomas & Adamson, said: “These commercial lettings demonstrate the overall success of Gladedale Capital’s development of the former Royal Infirmary site. Quartermile’s provision of such high-quality accommodation is a key contribution at a time when Grade A space has been so limited.”

T&A is also involved in the early stages of development of the 85,000 sq ft office and retail Quartermile Three, which is adjacent to Quartermile One on Lauriston Place.

Former city nightspot put on the market

THE former Archaos nightclub and Yang Bar on Glasgow’s Queen Street have been put on the market.

Reputed to have been the biggest club in Scotland, with its three floors topped by the VIP Sky Bar, Archaos closed in 2007.

In its current format, the 28,900 sq ft property is arranged over six floors with a separate bar occupying the ground floor and basement and a nightclub over the remaining three upper floors. The property also offers ancillary offices in the attic space. The premises are currently allocated for Assembly and Leisure use and come with an entertainment licence valid seven days a week until 3am.

Prestbury Holdings has appointed GVA Grimley and Shelley Sanders as joint selling agents.

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