News from CBRE (Glasgow).
Significant Forward funding agreement confirmed for 353,000 sq ft of new industrial space at Eurocentral
Global real estate advisor, CBRE, has secured a forward funding agreement for five prime units at Orchard Park site.
Global real estate advisor CBRE has brokered a £72 million pre-construction forward funding commitment between a US based investor and Newlands Developments (in association with Tulchan Development), enabling the speculative delivery of much-needed industrial and logistics development in Central Scotland.
The commitment represents the largest speculative forward funding deal for an industrial and logistics project in Scotland for 30 years.
The investment will unlock the speculative delivery of Orchard Park, a 40-acre industrial and logistics development at Eurocentral, Scotland’s flagship logistics hub. The scheme has scope to deliver 353,000 sq ft of new accommodation across five units ranging from 42,500 sq ft to 122,500 sq ft, with bespoke design options also available to suit occupier requirements. Development is scheduled to commence on site in Q1 2027 with practical completion targeted for H1 2028.
Occupying a strategic position within the Eurocentral estate, Orchard Park benefits from direct access to the M8 motorway via a dedicated junction, providing connectivity to the national motorway network and onward access to the rest of the UK and Europe. Scotland’s two principal airports are both within a 30-minute drive of the development.
Existing occupiers within Eurocentral span the distribution, logistics and office sectors, including DHL, XPO Logistics and Amazon.
The investment decision is underpinned by sustained occupier demand across Scotland’s industrial sector, particularly within the Central Belt and along the M8 corridor, where vacancy rates remain exceptionally low at approximately 2.5%.
Bryce Stewart, Senior Director at CBRE and Iain Davidson, Director at Colliers, are the retained letting agents on the scheme.
Stephanie Bishop, Development Director at Newlands Developments, commented: “This is a significant milestone for Scotland’s industrial and logistics market and a strong vote of confidence in the sector from one of the world’s leading real estate investors. We are delighted to be investing in Scotland again alongside our local delivery partner, Tulchan Developments.
“We believe this investment will attract significant occupiers who require top quality buildings available in the immediate future. It will reinforce Scotland’s position as an increasingly important destination for industrial and logistics investment.”
Douglas Steele, Associate Director at CBRE, said: “We are very pleased to have brokered a transaction of this scale and significance, bringing a much-needed injection of capital into Scotland’s industrial and logistics sector.”
“The deal reflects the growing international recognition of the opportunities within the country’s I&L sector. Orchard Park will be central in building that momentum, delivering high-quality, strategically located space that can help address occupier demand and set a new benchmark for industrial development in Scotland.”
New Ravenscraig Enterprise Park Brings 62,000 sq ft of Commercial Space
A new multi-let commercial development is taking shape at Ravenscraig Enterprise Park, Motherwell with a total of 5,772 sq m (62,132 sq ft) of industrial, business and storage accommodation being delivered across two phases.
The first phase comprises 2,714 sq m (29,212 sq ft) of high-quality commercial space, with units ranging from 205 sq m (2,206 sq ft) to 2,209 sq m (23,770 sq ft). Designed around modern occupier requirements, the development will provide flexible, energy-efficient accommodation with secure yard space, EV charging and photovoltaic solar panel systems. Phase 1 is scheduled for completion in October 2026, with the second phase due for completion in August 2027.
The development occupies a strategic location on New Craig Road, close to Motherwell and with direct access to the M74 and M8 motorway networks. Glasgow city centre and both Glasgow and Edinburgh airports are within around 30–35 minutes, while the site is also served by rail connections from Motherwell and a dedicated bus service.
Contact:
Craig Semple
Director
T 07795 641 892
James Tweedie
Assistant Surveyor
T 07502 769 446
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