WH Malcolm acquires Grangemouth warehouse for £3m
The 260,000 sq ft building near junction 6 of the M9 is one of a number of Asda sites in Scotland that have been superseded by the giant new Scottish Distribution Centre that the retailer has built on the other side of the M9.
WH Malcolm has acquired the warehouse to store spirits for Scotland’s whisky industry.
Property agents Colliers International, who acted for Asda, said the sale is one of the largest industrial transactions completed in Scotland this year.
Iain Davidson, a director of industrial and logistics at Colliers, said: “We are pleased to have completed this disposal strategy on behalf of Asda.
“The purchase price of around £3m 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.”
Glasgow-based Pollock Property Advisors acted for WH Malcolm in the deal.
Norman Pollock of Pollock Property Advisors 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.”