Former Stoddards Plant Sold for Redevelopment
17th August 2006
Ryden, acting on behalf of Ernst & Young LLP the Receiver of Stoddards International plc, has arranged the sale of the former carpet manufacturing complex situated at Barbadoes Road, Kilmarnock to FM Developments Ltd.The 38,554 sq m (415,000 sq ft) industrial complex was situated on a total site area of 14 hectares (34.6 acres) or thereby, approximately 7.3 hectares (18 acres) of which is utilised as a flood plain.A sale price of circa £4.5 million was achieved and reflected the potential redevelopment of a major part of the site for residential purposes.Russell Rutherford, Partner in Ryden's Glasgow office handled the sale and commented "This sale is a reflection of the continuing increase in demand for residential development opportunities. Kilmarnock and other nearby towns and villages are experiencing considerable growth in house values, mainly due to the completion of the M77 route which offers safe and fast travel linking into the new Southern Orbital route and M8 network."
