CHALLENGE

To dispose of a redundant 800,000sq ft semiconductor factory on 26 acres at Kelvin Industrial Estate, East Kilbride, Glasgow. Whilst looking to sell the whole site, our client wished to retain a presence on part of the site to house their 70,000 sq ft global Research & Development facility.  The timing of the disposal was particularly challenging due to the lack of demand in the market for such sites.  Despite this, Colliers International secured a sale and partial leaseback of the facility.
 

STRATEGY

Phase I - Semiconductor and 2nd tier high tech users

Phase II - General real estate market
Continued downturn in the global semiconductor market proved that there was no interest from this sector.  General real estate marketing then undertaken to secure a purchaser who would be prepared to then lease back 70,000 sq ft of buildings to our client.
 

SERVICES

  • Disposal Advice and Marketing
  • Planning Advice
  • Building Consultancy Advice 

 

RESULTS

Sale and partial lease back agreed with Clowes Developments Scotland Ltd in West of Scotland’s largest industrial transaction in recent years.

Colliers International also sold the client’s sister factory in Dunfermline, Fife extending to 1m sq ft which was sold to Shepherd Offshore in 2010.