Knight Property Group has today [4 June 2024] announced that it has agreed a deal with multinational distribution and outsourcing company Bunzl for the lease of a new 29,000ft² unit at Belgrave Logistics Park in Bellshill, North Lanarkshire.
The agreement of this 10-year lease follows deals for lettings at the site to Wincanton, RES and Likewise. Only one unit, measuring 35,000ft², now remains available at Belgrave Logistics Park.
Bunzl made the decision to relocate its Greenham Glasgow branch to Belshill from Uddingston, which is around three miles away from the new site.
James Barrack, founder and chairman of Knight Property Group, commented: “We are delighted to welcome Bunzl to Belgrave. Securing another high-calibre tenant so quickly after the recent Wincanton deal underpins and reinforces our strategy of committing to the speculative development of the best units in the best locations across Scotland.
“With only one unit now remaining, this deal is a further vote of confidence for Belgrave and in Lanarkshire generally.”
The “Wincanton deal” that Barrack referenced was finalised in March 2024, with the logistics company describing it as ‘one of Scotland’s largest industrial transactions in the past year’. It represented a 15-year lease on a new 126,960ft² unit.
The £55 million Belgrave Logistics Park is comprised of five buildings totalling 261,193ft². Knight Property Group said that ‘all units have been designed to a high specification, featuring high-performance composite wall and roof cladding’.
The property firm adds that Belgrave Logistics Park’s ‘all-electric’ buildings have environmental credentials such as an EPC ‘A+’ rating and BREEAM ‘Excellent’ certification.
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