Ibrox Business Park has changed ownership in what is said to have been the largest single industrial estate transaction in Glasgow in 2021.
Buccleuch Property - part of the business interests of the family of the Duke of Buccleuch - has sold the estate to Mileway, a European specialist in "last mile" logistics real estate.
Located to the west of the city centre, just off junction 24 of the M8 motorway, the business park has 78,674sq ft of prime industrial real estate arranged in 22 modern units. It was fully let when the sale was completed towards the end of last year.
Philip Eves, the director of Buccleuch Property who oversaw the acquisition, management and disposal of the site, said the company worked hard during the previous six years to enhance the estate. This included the acquisition of adjoining property, tenant relocation and general improvements to its overall appearance.
“The occupational market in this location remains strong and the units are very popular with tenants who, during our period of ownership, preferred to relocate into larger units within the estate than move to a different location," he said. "Following the sale, we are seeking new investment opportunities to redeploy our capital.”
Buccleuch was advised by Archer Property Consultants and Ryden; Mileway were advised by Graham+Sibbald.
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