TEACAKE and caramel wafer manufacturer Tunnock’s has taken on an additional 10,000 sq ft of space in Lanarkshire on a five-year lease.

A spokesman for Shepherd Chartered Surveyors, which secured the lease for the newly refurbished property at Bellshill Industrial Estate on behalf of Tunnock, said the family-owned confectionery manufacturer was taking on the additional space for the storage of stock.

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Bill Gow, finance director of Tunnock’s, said: “We are delighted with this property and thank Shepherd for its partner-led approach and professionalism throughout the process.”

Tunnock’s has recently expanded its manufacturing plant at Uddingston in Lanarkshire, where it has its head office.

Accounts for Thomas Tunnock, filed at Companies House in January, showed the Lanarkshire firm increased turnover by 10 per cent to £58.1 million in the year to February 24, 2018, from £52.6m in the preceding period.

The landlord of the Bellshill property, Carrylift UK, was represented by Avison Young in the transaction.

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The property, close to the motorway network, features a dedicated yard area, office accommodation and a warehouse.

Pete Harding, at Avison Young, said: “There was significant interest in this...unit…so to successfully reach an agreement on the site for such an iconic Scottish brand is an outstanding result for our client.

“It represents an ideal outcome for both parties because our client will benefit from a high-profile tenant taking a long-term lease on market terms, while the...premises will accommodate Tunnock’s plans for substantial business growth.”