Miller Developments and Scottish entrepreneur Mike Rutterford have sold the former Motorola factory site in
Balfour Beattie Rail Track Systems, the engineering design and manufacturing company, purchased the site from the joint venture for £4.8m to manufacture precision rail products.
Approximately 30 acres of land is included the sale.
The site was acquired by Miller and Rutterford in 2004 for over £2m after the closure of the Motorola factory the previous year.
The partners, under the brand SQ1, have stripped out the former semi-conductor plant and recycled redundant plant and steelwork.
The joint venture has retained approximately 45 acres of land but is unable to develop it due to the ongoing discussions about the location of a new Forth Estuary crossing.
However, the land will dramatically rise in value if the crossing intersects or runs adjacent to the holding.
Pam Grant, development director at Miller, said: “The sale of the former Motorola site to Balfour Beatty is an excellent opportunity to breathe new life into the area and will sustain employment in the local community”.
Savills acted on behalf of SQ1 while Smolka & Co represented Balfour Beatty.
