Funding deal sparks speculative warehouse development
A £72 million forward funding deal brokered by CBRE between developer Newlands and a US-based investor will see the speculative development of a five-unit warehouse scheme in Central Scotland.
By Liza Helps, Property Editor, Logistics Matters
THE COMMITMENT represents the largest speculative forward funding deal for an industrial and logistics project in Scotland for 30 years.
Newlands Developments, in association with Tulchan Development will now deliver Orchard Park, a 40-acre industrial and logistics development at Eurocentral.
Totalling 353,000 ft2 the scheme will provide new Grade A industrial and logistics accommodation across five units ranging from 42,500 ft2 to 122,500 ft2, with bespoke design options also available to suit occupier requirements. Development is scheduled to commence on site in Q1 2027 with practical completion targeted for Q2 2028.
The investment decision is underpinned by sustained occupier demand across Scotland’s industrial sector, particularly within the Central Belt and along the M8 corridor, where vacancy rates remain exceptionally low at approximately 2.5%.
CBRE and Colliers, are the retained letting agents on the scheme.
