Supermarket chain Lidl is set to move into the 122,000 sq ft Titan building in Eurocentral, following an off-market deal secured by Colliers International. It follows Lidl exchanging contracts on a 50-acre site at Eurocentral - which lies between Glasgow and Edinburgh - where it is to build its new Scottish Distribution Centre.
Adrienne Howells, head of warehouse expansion at Lidl, said the retailer needed extra space to service its burgeoning Scottish operation, while it builds the new 624,000 sq ft warehouse.
She said: “Titan will be used alongside our existing warehouses in Livingston, until our new Scottish Distribution Centre is complete. We are delighted to have sourced such a property so close to where our warehousing operation will eventually be based.”
Iain Davidson, director of Industrial and Logistics with Colliers International in Scotland, said his team had moved fast to secure suitable premises for Lidl, in a market where relatively few properties of such size are available at any given time.
“Titan wasn’t on the market, but we were aware of its availability and that it would be an ideal solution for our client Lidl, who we had already helped to secure a 50-acre site at Eurocentral. We were able to move quickly and negotiate a deal that is to the benefit of all parties.”
Titan is owned by Laurel Properties, which was represented in the deal by Neil Cockburn Property Consultancy. The new-build unit boasts 12m eaves and a 48m-deep yard, and is situated in the Centralpoint area of Eurocentral.
Details of the lease terms have not been disclosed.
Neil Cockburn, of Neil Cockburn Property Consultancy, commented: "The opportunity arose for the landlord to cover an element of their holding costs, not least empty rates, which only recently became such a significant cost for owners of vacant industrial property throughout Scotland.
"In addition, the transaction allowed Laurel Properties the opportunity to receive a commercial return on their initial investment. It is still the intention that Laurel Properties’ sister company CCG will occupy in the future, increasing their off-site manufacturing capabilities."