A MAJOR national property investment and development company has made
an investment worth millions of pounds in Glenrothes.
The first involvement of Allied London and Scottish Properties in a
Scottish New Town, is good news for the future growth potential of
Glenrothes.
Allied London, which has bought the remaining Glenrothes Development
Corporation property on the Southfield Industrial Estate for #5.15m,
said it will use it to improve the company's capital base and the
Glenrothes industrial base.
Announcing that the deal was the first Scottish New Town acquisition
by his company, whose parent firm has a #225m property portfolio
throughout the UK, Scottish managing director Barry Clapham added: ''We
hope this will be the first of several investments in Glenrothes.''
Welcoming the sale, development corporation chairman Kit Blake said:
''We are very happy at the successful conclusion of this transaction.
''This substantial investment by Allied London and Scottish Properties
-- a well established and successful company -- not only means existing
firms know who their new landlord will be, but offers the potential for
future development to help maintain the growth momentum established by
the corporation.''
The Southfield package of 34 factories ranging from 1000 to 40,000 sq
ft plus three development sites, was advertised on the open market as
part of the wind-up of the development corporation. Allied London
submitted the highest bid for the site.
More than 60 privately-owned factories, including the big United Glass
and Apricot Computers premises, are not part of the deal, nor is the
Fife Food Centre, which belongs to the development corporation, but will
soon be taken over by Fife Regional Council.
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