A large industrial unit in Renfrew has been purchased by Dalglen Investments, the property arm of Inverclyde businessmen, Sandy and James Easdale.
Previously owned by Peel Waters Limited, the property development arm of Peel Group, the site at Meadowside Street in Renfrew is located as part of the Neil Street Industrial Estate.
Sitting at the entrance to the wider estate, the property is let to aviation repair firm, Aeropair Limited and has been secured for an undisclosed sum, with Alan Stewart at Breck Property Consultants helping to broker the deal.
Dalglen’s latest acquisition is located between other owned sites at Neil Street Industrial Estate, which is located adjacent to the Renfrew Ferry and home to Clyde Metal Recycling, also owned by the Easdale family.
The purchases further strengthen the Easdale Investment Group’s commercial interests in Renfrew, with property firm Bowman Rebecchi supporting the overall letting and management of the portfolio.
Reflecting on the purchase, James Easdale said:
"We are pleased to be able to conclude the deal for this further asset and consolidate our other areas of ownership at Renfrew.
“This acquisition further supports our previous strategic investments across Scotland and brings a superb tenant and property into our broader portfolio.”
Sandy 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.
“We are in a good position to add to our portfolio and continue to consider several new opportunities throughout the United Kingdom.”
Brian Lavalette, Property Director at Glasgow Waters, said:
“We have been delighted to work in partnership with Dalglen Investments in the sale of this
property which will further strengthen and enhance their property portfolio in the area.
“We thank Dalglen for the swift and professional manner the transaction was undertaken.“
Dalglen’s property investment operations are behind several housing projects, including the Spango Valley site in Greenock, the former Tullis Russell paper factory in Glenrothes, and a waterside housing development at Dumbarton, creating over 3,000 new homes within the next decade throughout Scotland.
Earlier this month, 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.
The current property and construction developments being led by the Easdale family in the UK are estimated at £800 million.
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