Cromwell Property Group has announced the sale of 3.2 acres of commercial development land at Broadleys Business Park in Stirling to Eastern Properties (Scotland) Ltd for £720,000.
The site has been sold by Stirling Development Agency Ltd, which is a joint venture between Stirling Council and Cromwell Property Group. Ryden advised the seller.
Eastern Holdings Ltd’s property division, Eastern Properties (Scotland) Ltd, acquired the land for its motor division Eastern Western Motor Group Ltd and has obtained planning consent to construct two new car dealerships on the land (plot 18).
The total investment by Eastern Holdings Ltd in the development of the site, once complete, is in the region of £4 million. It aims to have both dealerships open for business within 12 months, employing around 50-60 staff. Each dealership will be 15,000 sq ft in size, with a total of 331 car park spaces.
Broadleys Business Park is one of the main industrial and commercial estates in Stirling and existing occupiers include FES Ltd, Barbour European, Plumbase, Tile Giant and a number of car dealerships including BMW, Audi, Volkswagen and Citroen.
Neil McAllister, partner at Ryden who handled the sale, commented: ‘We are very pleased to achieve this sale on behalf of Cromwell Property Group. It will result in a significant investment in the estate and create a good number of new jobs. We have also just placed the adjoining plot (17) under offer for development purposes, leaving only plot 13 (2.88 acres) and plot 14 (1.78 acres) available to purchase.’