SCOTTISH property company HFD has sold an industrial property in Hamilton in a deal worth around £2.5 million.
HFD has offloaded 1 Watt Place, a modern building originally developed by Scottish Enterprise in the early 2000s, to Edinburgh Napier University.
The building, which is set within Hamilton International Park, was initially constructed as hybrid industrial-innovation accommodation, and was formerly known as the Construction Scotland Innovation Centre.
Following the sale, it will be used by Built Environment – Smarter Transformation, which is part of the university.
The sale of the building comes after HFD sold the 177 Bothwell Street Grade A office development to a Spanish investment firm for around £215m.
Stephen Lewis, managing director of HFD Property Group, said: “Whilst our original plan was to let the building, when our neighbouring occupier enquired about purchasing 1 Watt Place we took the decision to sell.
"Having delivered multiple ‘firsts’ in Scotland, innovation is an important part of our own businesses, including HFD’s construction division, so we were pleased to support the university and its aim to drive further innovation in construction.”
HFD has managed Hamilton International Park since 2008. Following the completion of HFD’s EcoCampus development in 2011, the business park is now fully developed and is home to more than 80 businesses employing more than 6,000 people.
Colliers and Savills represented HFD on the disposal, with EYCO acting for Edinburgh Napier University.
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