A 260,000 sq ft former Asda warehouse has been sold, marking Scotland's largest warehouse deal of 2017.
The former Grangemouth warehouse of supermarket chain Asda has been sold to logistics and construction conglomerate WH Malcolm for around £3m. The facility close to junction 9 of the M9 is the second ex-Asda unit in Scotland to go for Scotch whisky users. Last year Asda disposed of a 130,000 sq ft warehouse to whisky giant Whyte & Mackay.
Norman Pollock of Pollock Property Advisors acted for buyer WH Malcolm in the latest deal, says the 260,000 sq ft warehouse was now likely to be used for the storage of spirits related to Scotland's whisky industry.
Mr Pollock said: “We are delighted to have secured this large unit on a freehold basis for our client, as industrial units of this size do not come onto the market often. As the Malcolm Group takes over the site as part of its support for Scotland's highly successful drinks sector, it is likely to bring jobs to the area.”
Both units have been replaced by its new 500,000 sq ft Scottish Distribution Centre, also at Grangemouth.
Iain Davidson, director, Industrial and Logistics at Colliers international in Scotland, said: “The purchase price of around £3m is a great result for our client and a positive deal all round, especially for the local economy, as both the old sites will soon be in full use alongside Asda's new 500,000 square foot distribution centre.”
The building acquired by W H Malcom is on the West Mains Industrial Estate, Grangemouth FK3 8YE, is almost twice the size of its 130,000 sq ft sister site sold to Whyte & Mackay in 2016. A single 260,000 square foot warehouse, DC1 boasts a height of 11m, with 36 dock loading doors. It sits on a self-contained 18-acre site with on-site diesel station and lorry wash and at just 32% site density, there is considerable room for expansion.