By Scott Wright
THE sale of a business park in the Scottish Borders for nearly £9 million has been hailed as a sign that demand for commercial property remains strong, in spite of the dislocation sparked by the coronavirus crisis.
Galabank Business and Trade Park, where tenants include Kyowa Kirin International, Jewson and Dingbro, has been acquired by M7 Real Estate for £8.6m. The property spans a range of office accommodation and a trade park.
Jamie Thain of Galbraith, which sold the property for Abercastle Investments, said: “The investment attracted good interest due to its significance within the location, quality of accommodation and strong tenant line up. It not only provides high quality modern office accommodation within the town but has also attracted many of the UK’s largest trade counter operators who have clustered within the park and trade well from it due to Galashiels’ central geographical location within the Scottish Borders.
“It is a clear example of continued investor appetite for well-presented investments with ongoing asset management potential, even in these unprecedented times.”
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