Lettings success for new £35 million trade park on outskirts of Edinburgh
“Our mix of tenants reflects the flexibility of Capital Park for a wide range of commercial and trade counter businesses” – Andy Farrer, Chancerygate
Two lettings have been announced at a new £35 million logistics and trade park development in Edinburgh with further deals in the pipeline.
Home improvement and building repair partner Building Finishing Services has signed a five-year lease for an 8,000-square-foot unit at Capital Park in Sighthill. Meanwhile, two other units totalling 17,000 sq ft have been let by a single unnamed occupier on a five-year lease.
Located on Bankhead Avenue, Capital Park extends to 132,000 sq ft and comprises 18 new-build leasehold units ranging from 2,770 sq ft to 45,980 sq ft. The park has a gross development value of around £35m.
Following these latest lettings, the scheme is now 50 per cent committed. The remaining available units range from 2,770 sq ft to 12,970 sq ft, with the option to combine units to provide up to 25,675 sq ft.
Capital Park has been jointly delivered by developer Chancerygate and specialist sustainable investor Bridges Fund Management. Current occupiers include builders’ merchant Travis Perkins, workplace technology provider Agilico and mobile phone and accessories wholesaler Zavi Tech.
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Chancerygate development manager Andy Farrer said: “Our mix of tenants reflects the flexibility of Capital Park for a wide range of commercial and trade counter businesses, all of whom benefit from its excellent strategic location within Edinburgh.
“The high specification, sustainable accommodation, provides occupiers with exceptional space in which to further grow their operations. We are very pleased to be 50 per cent committed at this stage, and are in advanced negotiations with other prospective occupiers who we hope to be able to announce soon.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and investment manager and the only one operating nationwide. The company currently has more than 1.4 million square feet of urban logistics space under construction or ready for development across 11 sites ranging from Edinburgh to Croydon.
Bridges is a specialist sustainable and impact investor. Its property funds focus on sectors that are well placed to benefit from the “transition to a more sustainable and inclusive economy”. JLL and Ryden are agents for Capital Park.
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