Ryden LLP and Galbraiths have announced three significant industrial property lettings on behalf of Catalyst Capital who own a portfolio of properties on Tweedbank Industrial Estate in Galashiels.
Within the last 12 to 18 months Catalyst Capital have taken the initiative and invested in the vacant properties by carrying out a significant refurbishment programme. This investment has now been rewarded with the lettings of the following units:
Block 1 – this is the largest building on the estate and the new tenants are Mossburn Distillers Ltd. The company (owned by Marussia Beverages) completed the Torabhaig Distillery on Skye last year and are planning a further distillery in Jedburgh which will include a 200 seat restaurant and visitor centre, with the expected completion date in approximately 3 years’ time.
The Mossburn Distillers building on Tweedbank is 1,377 sqm (14,817 sqft) and the company has taken a 4-year lease. The quoting rent for the building was £3.75 per sqft.
Block 4 Unit 1 – the new tenants of this unit are CETA Precision Engineering Ltd who are already located on the estate and were in need of larger and more suitable accommodation. The company specialism is precision engineering of manufacturing components, prototypes and the provision of precise engineering services.
The building totals 929 sqm (10,000 sqft) and CETA have taken a 15-year lease. The guide rental for the building was £3.50 per sq ft.