Landmark Falkirk hub that is home to over 30 businesses bought for £2m
The near-£2 million acquisition from Bellair Scotland will see Tartan Commercial retain all the employees at the hub.
The location is home to some 35 tenant companies and 150 people. The former Falkirk general post office was modernised in 2013 and the four-storey landmark building provides a variety of co-working and virtual office space, meeting rooms and rentable offices together with a cafe and a fitness and wellness centre onsite.
Advertisement
Hide AdAdvertisement
Hide AdTartan Commercial founding director Andy Hadden is also behind the £40m development of Scotland’s first artificial surf park, Wavegarden Scotland, on the outskirts of Edinburgh. Hadden developed The Lighthouse business centre, which now has more than 30 tenant companies, covering a diverse range of sectors.
Hadden said: “Our mission is to transform towns and create self-sufficient micro-economies outside major cities.
“This approach and impact have been highlighted with our work in North Berwick, and Bellair have done a wonderful job in Falkirk, hence our appetite to acquire.
“This strategy means we employ more patient capital, with a view to owning all sites and buildings freehold, but then developing and nurturing them as you would a hotel.”
Advertisement
Hide AdAdvertisement
Hide AdManaging director Nick Watson joined Tartan Commercial at the beginning of 2020 to drive the company’s expansion.
A former director of Rettie & Co, who still retains close ties to that business through a consultancy role, Watson has driven the Falkirk deal and is in the process of acquiring further sites and opportunities across Scotland.
Watson said: “We are delighted to complete this acquisition, situated right in the heart of Falkirk. The trend towards workplace mobility wasn’t created as a result of the pandemic but it has certainly accelerated it.
“We believe that the future will see a combination of flexible practices which includes working from home, hubs such as North Berwick and Falkirk, as well as larger city headquarters.
Advertisement
Hide AdAdvertisement
Hide Ad“Since September this year, we have seen a sharp increase in enquiries compared to the beginning of the year, clearly reflecting the changes to work practices.
“The tenant mix we are seeing includes corporate occupiers looking for regional hub space as well as independent local businesses.”
A message from the Editor:
Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions
Comment Guidelines
National World encourages reader discussion on our stories. User feedback, insights and back-and-forth exchanges add a rich layer of context to reporting. Please review our Community Guidelines before commenting.