Galashiels business park sold for £8.6m
Galabank Business Park and Trade Park in Wilderhaugh, Galashiels, has been sold to M7 Real Estate for £8.6m.
The site, which formerly housed Exacta Circuits, comprises a modern HQ office building, a multi-let office and a trade park, and is let to occupiers such as Kyowa Kirin International PLC, Momentum Scotland, Cube (GB) Ltd and Jewson, provides an average unexpired lease term of over six years and producing a rent in the region of £887,000 p.a.
Jamie Thain of Galbraith, who concluded the sale on behalf of Abercastle Investments, said: “The investment attracted good interest due to its significance within the location, quality of accommodation and strong tenant line-up.
“It is a clear example of continued investor appetite for well-presented investments with ongoing asset management potential, even in these unprecedented times.”