Acting for an offshore investor, strategic advice was required for a 130,000 sq ft distribution unit with a short-dated lease to Morrisons Supermarket. Eurocentral is Scotland’s pre eminent distribution site between Glasgow and Edinburgh.
Recognising the opportunity for a greater density of development on the site, the lease to Morrisons was extended and restructured to release land on which planning permission was obtained for a new 25,000 sq ft distribution unit.
Both the Morrisons investment and the site with planning were then sold to a local authority pension fund.
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