Speculative Development Reinvigorates Edinburgh’s Industrial Market
29th May 2007
After years of steady progress Edinburgh’s industrial market has been boosted by Upland Developments Limited’s announcement that construction has begun on its speculative development at Newbridge. Newbridge One Industrial Park will be built on the 18.5 acres site at Newbridge Industrial Estate that Upland acquired earlier this year. Their plans are to develop industrial, distribution and trade units at the only new speculative development currently taking place Edinburgh.
The 42,000 sq ft first phase will be built on an entirely speculative basis and will offer industrial or trade units from 5,000 sq ft to 42,000 sq ft. Completion is expected by the end of October with accommodation available on a to let basis, although some may also be sold as individual units for owner occupation.
Detailed planning consent has been granted for 260,000 sq ft within the site, meaning that ‘build time’ for new units can be reduced to an absolute minimum. Upland Developments can also offer design and build opportunities for industrial, distribution or trade occupiers from 15,000 sq ft up to circa 80,000 sq ft on a lease or sale basis.
Neil McAllister of Ryden said: “This is great news for Edinburgh’s industrial market. After a period of much talk, Upland’s speculative development is a good sign, showing confidence in the market where rentals have increased over recent months from £6.50 to £7.50 per sq ft. The Scottish industrial market is the strongest it’s been for a decade. I am confident that this development will be a success.”
The development is situated within two minutes’ drive of Newbridge roundabout, which adjoins the M8, M9 and A9. Edinburgh city centre is 8 miles to the east and Glasgow city centre can be reached within 40 minutes.
Ryden and Jones Lang LaSalle are jointly marketing the units.
