Location: Tweedbank Industrial Estate, Galashiels
Within the last 12 to 18 months Catalyst Capital have taken the initiative and invested in the vacant properties by carrying out a significant refurbishment programme. This investment has now been rewarded with the lettings of the following units:
Block 1 – this is the largest building on the estate and the new tenants are Mossburn Distillers Ltd. The company (owned by Marussia Beverages) completed the Torabhaig Distillery on Skye last year and are planning a further distillery in Jedburgh which will include a 200 seat restaurant and visitor centre, with the expected completion date in approximately 3 years’ time.
The Mossburn Distillers building on Tweedbank is 1,377 sqm (14,817 sqft) and the company has taken a 4-year lease. The quoting rent for the building was £3.75 per sqft.
Block 4 Unit 1 – the new tenants of this unit are CETA Precision Engineering Ltd who are already located on the estate and were in need of larger and more suitable accommodation. The company specialism is precision engineering of manufacturing components, prototypes and the provision of precise engineering services.
The building totals 929 sqm (10,000 sqft) and CETA have taken a 15-year lease. The guide rental for the building was £3.50 per sq ft.
Block 12 Unit 4 – This is one of the most modern units on the estate and has also recently been refurbished. The accommodation total 232 sqm (2,494 sqft) and the new tenants are Mhor Sweets who are an online traditional sweet shop. The company was established in 2009 and due to the company’s continued expansion they took the decision to move to bigger premises. The company aims to provide the largest range of retro sweets at the best price.
Catalyst Capital are very pleased with the above lettings and now only have one unit remaining on the estate which is Block 10 Unit 1, a prominent end terraced industrial unit of 347 sqm (3,737 sqft). The required rent for this building is £4.00 per sqft.
Ryden and Galbraith representend Catalyst Capital in these deals.