Tilbury Pheonix has sold 9.98ha (24 acres) in two deals at The Phoenix, near Paisley in West Scotland.
In the first deal National Amusements bought 7.28ha (18 acres) for an undisclosed amount.
The American company plans to develop a 14-screen showcase cinema with site work starting in the next couple of weeks. The development will include parking for 1,260 cars and is expected to open in May 1997.
In a separate deal existing tenants D F Storage bought 2.7 ha (6.7 acres), also for an undisclosed sum. The company plans to build a 5,574 sq m (60,000 sq ft) factory.
Meanwhile, demolition has started on the former Roots car plant on the part of the The Pheonix earmarked for industrial use. Removal of the factory’s east and west wings will create 28.3 ha (70 acres) for industrial and office redevelopment.
EGi News 09/09/96
