The former Grangemouth warehouse of supermarket chain Asda has been sold to logistics and construction conglomerate WH Malcolm in Scotland’s largest industrial property deal of 2017.
The 260,000 square foot building at West Mains Industrial Estate was sold on a freehold basis for around £3 million.
Industrial property experts at Colliers acted for the supermarket company and have now completed the disposal of all former Asda sites in Scotland, which were superseded by the giant new Scottish Distribution Centre it has built on the other side of the M9. Colliers secured the sale of the smaller of Asda’s two vacant Grangemouth warehouses last year to whisky giant Whyte & Mackay.
Iain Davidson, director, industrial and logistics at Colliers international in Scotland, said: “We are pleased to have completed this disposal strategy on behalf of Asda. The purchase price of around £3 million 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.”
Norman Pollock of Pollock Property Advisors acted for buyer WH Malcolm, also known as the Malcolm Group. He said the 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.”
The DC1 building is almost twice the size of its 130,000 square foot sister site sold to Whyte & Mackay in 2016. A single 260,000 square foot warehouse, with 36 dock loading doors. It sits on a self-contained 18-acre site with on-site diesel station and lorry wash and there is considerable room for expansion.