The Eurocentral Partnership, a joint venture between Royal Bank of Scotland, Scottish Enterprise Lanarkshire and AMEC Developments, is to build a third speculative warehouse at the Eurocentral industrial/distribution site, following strong demand.
Eurocentral is the largest industrial and distribution site in Scotland and is situated on the eastern edge of Glasgow, near the junction of the M8, M73 and M74 motorways. The 263ha (650 acres) development, which includes a huge rail freight terminal, still has 22.2ha (55 acres) of enterprise zone land remaining. The land enjoys the benefits of 100% capital allowances, free property rates until 2003 and no planning consent requirements.
The third warehouse, named Artemis, will total 6,596 sq m (71,000 sq ft) with potential for a 50% expansion on a 1.5ha (3.8-acre site).
Royal Bank of Scotland’s Fraser Greenshields said: “The level of enquiries is such that we believe a third speculative phase is justified.”
Stephen Turner of AMEC Developments said: “With Eurocentral’s location at the rail freight terminal and on the A8/M8, close to the M73/74, it has the best facilities. We are very confident about the speculative developments that we are undertaking.”
Artemis follows on from Colossus I and Colossus II – the first two phases of the scheme. Colossus I, a 8,733 sq m (94,000 sq ft) warehouse, is let to P&0 Distribution. Colossus II, an identical building, is under construction.
The letting agents on Eurocentral are Insignia Richard Ellis and CB Hillier Parker.
EGi News 13/06/01
