Building Briefs - January 22nd



  • Lismore concludes £10.5m sale of Fife’s premier industrial estate

Lismore Real Estate Advisors advised a UK fund client on the £10.5m sale of the multi-let Belleknowes Industrial Estate in Inverkeithing to PATRIZIA and Caisson. The sale price reflected a net initial yield of 5.95%.

Belleknowes Industrial Estate is Fife’s premier industrial estate and is located only 15 minutes from Edinburgh airport. Extending to 140,000 sq.ft, it comprises 22 units of varying sizes and provides trade, warehousing and light industrial accommodation. It has a strong occupier base including Network Rail, Kwik-Fit, Speedy Hire, Plumbstore and Bella & Duke.

Lismore Real Estate Advisors and Shepherd & Wedderburn represented the vendor, whilst PATRIZIA and Caisson was advised by Galbraith and Morton Fraser.

 

  • Housing plan for old Panmure Hotel

Developers are bidding to deliver two new houses in the grounds of a former Tayside hotel.

More than two years after a similar application was withdrawn, the plan for the two homes has come forward for the grounds of the former Panmure Hotel in Monifieth.

It closed in 2018 before undergoing a multimillion-pound conversion into nine flats.

A fresh application for the two additional houses has now been recently lodged with Angus Council.

The West Developments proposal for the three-bed properties would see them build on what was previously car parking and garden ground of the hotel.

A previous bid for two houses on the Tay Street site was withdrawn in early 2019.

 

  • Stirling approves 16 projects to improve public spaces

Stirling Council has given the green light to 16 projects that will support safe active travel and the economic recovery of our communities from the covid-19 pandemic following a consultation process.

The various initiatives across the Stirling area which total £513,000 will include new cycle infrastructure, reduced speed limits, widened paths, artwork, signage and traffic calming measures.

After initially securing the funding for nine projects from Sustrans’ Spaces for People Fund, the council consulted with the public and other key stakeholders for three weeks in October to ensure the proposals met the needs of communities.

Due to Covid-19 restrictions, this engagement took place via an online platform where residents could give their views on the plans and also suggest other projects that would benefit from the funding.

There were almost 500 responses to the exercise, including 176 in the community proposals option, and council officers then worked with Sustrans to draw up a finalised list based on criteria set by the fund and the council.

The 16 projects which will now move to the implementation stage are located in Stirling, Bannockburn, Whins of Milton, Bridge of Allan, Dunblane, Aberfoyle, Callander, Plean, Fallin, Gargunnock and Killearn.

Details of all the projects can be found on the Stirling Council website.