EASDALES Acquire Industrial Estate In Port Glasgow

22 November, 2023 | Business, Local

A LARGE industrial estate in Port Glasgow has been purchased by Dalglen Investments, the property arm of Inverclyde businessmen Sandy and James Easdale.

Kingston Industrial Estate has been acquired from Peel Waters Ltd, the property development arm of Peel Group, for an undisclosed sum.

The site has 19 industrial units of various sizes and extends to just under 20,000 square feet.

The successful estate is currently 95 per cent occupied, with several of the current tenants located at Kingston for 10 or more years.

It is located between other sites owned by Dalglen, at Cappielow Industrial Estate, MacDougall Street, Cartsdyke Avenue, and Ratho Street, as well as Bogston Industrial Estate, all along the A8 corridor between Greenock and Port Glasgow.

The purchase further strengthens Easdale Investment Group’s commercial interests in Inverclyde, with property firm Bowman Rebecchi supporting the overall letting and management of the portfolio.

Sandy Easdale said: “We are pleased to be able to conclude the deal for this further asset and welcome Kingston Industrial Estate into our broader portfolio.

“This acquisition further supports our previous strategic investments in this part of Inverclyde and brings a range of smaller units into our broader portfolio.”

James Easdale said: “We’d like to thank Peel Waters Ltd for their support during the negotiations and we continue to develop a good working relationship together.

“While our transport businesses remain hugely important to us, property and construction investments in the UK are consistently presenting themselves.

“We are in a good position to add to our portfolio and continue to consider several new opportunities.”

Brian Lavalette, property director at Peel Waters, said: “We have been delighted to work in partnership with Dalglen Investments in the sale of this property which will further strengthen and enhance their property portfolio in the area.

“The site is almost fully let, and the acquisition by Dalglen Investments will inevitably retain and attract further tenants to the site creating more opportunities in the local area.

“We thank Dalglen for the swift and professional manner the transaction was undertaken.“

Dalglen’s property investment operations are behind several housing projects, including the Spango Valley site in Greenock, the former Tullis Russell paper factory in Glenrothes, and a waterside housing development at Dumbarton, creating more than 3,000 new homes within the next decade.

Earlier this month, approval was also granted by Inverclyde Council for the Easdale Investment Group to create 47 new homes at the site of the former Tate & Lyle factory in Greenock.

The value of current property and construction developments being led by the Easdale family in the UK is estimated at £800million.

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