A joint venture between Miller Developments and private consortium Rutterford has bought Motorola’s 85-acre (34.4ha) plant near Edinburgh.
The high-profile freehold site at South Queensferry is worth around £10m. It includes a vacant 188,000 sq ft (17,465 sq m) manufacturing plant with offices and a 32,300 sq ft (3,000 sq m) utilities building. The site also has 30 acres (12.1ha) of land for expansion.
Miller is expected to try to capitalise on the area’s buoyant residential market, but could run into difficulties with the local planning authority.
One local agent said: “Given the site’s good communications and location close to Edinburgh and Fife, it would make sense to build residential space there.”
Miller director Andrew Sutherland said: “We’re working on our planning strategy and will sit tight on making a decision until we’ve sorted that out.”
The 50/50 jv hopes to relet the entire specialist plant to new hi-tech businesses. Failing that, it will consider stripping back the space for office or industrial/manufacturing uses or even demolishing the existing plant to build a new business park.
FPDSavills advised Miller and Rutterford, while Chesterton acted for Motorola.
References: EGi News 23/02/04
