GREENOCK-based Sandy and James Easdale have added to their growing commercial property portfolio with a deal to acquire Kingston Industrial Estate in Port Glasgow – and signalled their appetite for further deals.
The brothers have purchased the Inverclyde site, located at Kingston Dock next to the A8 and Gallagher Retail Park, from Peel Waters Limited for an undisclosed sum.
The park spans 19 industrial units, which are 95% occupied. Several of the tenants have been there for 10 years or more.
Purchased through the Easdales’ Dalglen Investments vehicle, Kingston Industrial Estate sits between Cappielow Industrial Estate and Bogston Industrial Estate, also both owned by Dalglen. The units range from 532 square feet to 3,387 sq ft.
The Easdales said that they were still looking for further opportunities to add to their property investments.
Sandy Easdale said: “We are pleased to conclude this deal and bring Kingston Industrial Estate into our broader property portfolio.
“Industrial estates such as Kingston are vital commercial properties, providing flexible accommodation to a range of small and medium sized enterprises which enables them to generate economic activity for the local region.
“We are currently examining options for further property purchases, including industrial and business park purchases, and we expect progress on that soon.”
The Kingston deal comes after approval was also granted by Inverclyde Council for the Easdale Investment Group to create 47 new homes at the site of the former Tate & Lyle factory in Greenock as part of a new £15 million development.
James Easdale said: “We’d like to thank Peel Waters Ltd for their support during the negotiations and we continue to develop a good working relationship together.
“Kingston Industrial Estate has hosted an excellent range of tenants over the last decade and more and is a vital site for local employment and commercial activity.
“Property and construction investments in the UK are consistently presenting themselves and we have been delighted to be making progress with our housing developments at the former IBM and Tate & Lyle sites in Greenock. We’re also hoping that we will also soon see positive movement on some of our other housing and leisure investments too.”
Profits fall at Nairn's Oatcakes as Ukraine war hikes costs
NAIRN’S Oatcakes has reported a “significant reduction” in underlying profits amid challenging conditions linked to the war in Ukraine and a “post-Covid” rise in ingredient, packaging, and energy costs – and warned that the trading environment continues to be tough.
New accounts show the Edinburgh-based company, which can trace its roots back to a small bakery that began life in 1896, lifted turnover by 7.2% to £43.8 million in the year ended May 20, driven mainly by increasing prices to customers.
However, profits were hit by “unprecedented cost inflation impacting all areas of the business”, including ingredients, packaging, labour, energy, and distribution costs.
Farage lives it up in jungle as bank chief licks wounds
WHEN the history books come to record the battle between Dame Alison Rose and Nigel Farage, they will surely show there was only one winner.
Farage, the former UKIP leader who played a key role in securing the vote for Brexit in 2016, is spending the tail end of 2023 on a reality TV show in Australia.
It has been reported that the politician and GB News presenter will earn £1.5 million from his appearance on ITV’s I’m a Celebrity… Get Me Out of Here! Not a bad return for padding around the jungle for a few days with some other minor celebrities and exotic insects, some of which he may be required to eat. No doubt Mr Farage will also be able to use the platform to share his political views.
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