Work has completed on the first unit at the £35m, 132,000 sq ft Capital Park urban logistics and trade park development in Sighthill, Edinburgh.
The bespoke 15,720 sq ft unit will be occupied by the UK’s largest builders’ merchant Travis Perkins. The unit is now fully open and trading. The company has agreed a 15-year lease on the unit, which also has a 50,000 sq ft self-contained yard area for storage of building materials.
Located on Bankhead Avenue, Capital Park is being jointly delivered by urban logistics developer Chancerygate and specialist sustainable and impact investor Bridges Fund Management.
This is the first unit to achieve practical completion on Capital Park, which will comprise 18 high specification new build leasehold units ranging from 2,770 sq ft to 45,980 sq ft. These units will be available for occupation between November and the end of the year.
Two further units are currently under offer. This means 30 per cent of the development is either let or under offer. The remaining units are available on a leasehold basis.
Neighbouring occupiers to Capital Park include Evans Halshaw, Tool Station, Edinburgh College, Edinburgh Napier University and Burton Biscuit Company.
Units at the development will benefit from electric vehicle charging points, low air permeability design and solar cells on their roofs which provide green energy on an affordable basis to occupiers.
In addition, the units will be constructed from high-performance insulated cladding and roof materials to reduce CO2 emissions. The scheme is targeting an EPC A and BREEAM Very Good/Excellent rating.
Chancerygate development director, Mike Walker, said: “We are happy to deliver a mix of Grade A urban logistics and trade counter space to serve the increasingly active and dynamic SME sector in the city.
“Capital Park’s strategic location will appeal to a number of sectors as evidenced by the pre-let to Travis Perkins and the strong interest we are seeing in the remaining units. This is undoubtedly one of the best trade locations in Edinburgh.
“With demand for this type of accommodation increasing, we anticipate more units to go under offer and look forward to welcoming further occupiers to the scheme in due course.”
Founded in 1995, Chancerygate is the UK’s largest urban logistics property developer and asset manager and the only one operating nationwide.
The company currently has around 1.16m sq ft of urban logistics space under construction or ready for development across 10 sites ranging from Edinburgh to Croydon.
Bridges is a specialist sustainable and impact investor. Its property funds focus on sectors that support the transition to a more sustainable and inclusive economy, including healthcare, lower-cost housing and sustainable logistics.
Bridges partner Guy Bowden added: “We’re excited to bring forward this scheme at Capital Park, which we believe will support new jobs and make a positive contribution to the regeneration of the local area. The completion of this first unit is an important milestone for the development, and highlights the growing demand among SMEs for purpose-built, highly sustainable industrial space.”
Shaun Kemp, Branch Manager at Travis Perkins Edinburgh West, said: “This move is part of our ongoing development of larger and more capable destination branches within our network, aimed at consistently delivering superior service to our customers. Opening this new branch underscores Travis Perkins’ commitment to enhancing customer access to a vast array of tools and materials, ensuring they have everything they need to complete their projects efficiently and to the highest standards.”
Agents for Capital Park are JLL and Ryden.
