The latest tenant to take up newly refurbished premises at Cumbernauld’s Westfield Park has been secured by GVA, the country’s leading and most diverse real estate advisory service.
Wholesale pet product supplier Vital Pets has secured new bespoke premises within Mollins Court. Previously an office building, the property was converted into a 2,000 sq ft industrial unit with a large dedicated yard area.
The deal for the property owned by CEG is the ninth GVA has secured at Westfield in 18 months. In that time more than 70,000 sq ft of lease transactions and sales have been agreed which represents a fantastic period for the revitalised industrial estate. In addition, GVA has a further 8,000 sq ft under offer whilst a further 15,000 sq ft are discussing terms.
With limited new commercial developments in the area, Westfield Park is proving to be an extremely attractive option to prospective tenants drawn by the excellent transport links and the extensive internal and external property refurbishments.
Craig Semple, associate director at GVA, said: “Westfield Park has exceeded our expectations, with a high proportion of enquiries becoming deals. The good news for the area is that new businesses are being drawn to Westfield and are bringing new jobs while existing ones are staying.
“The high quality of the refurbishment work is creating desirable industrial pods. In general, the market has performed well during 2018 and we expect this to continue for the rest of the year with demand outstripping supply.”
Grace Lewis, Investment Manager at CEG, said: “Westfield Park has been a great success this year following our ongoing refurbishment works to the estate. We are pleased to welcome new tenants to the area as well as retain many existing ones following the conversion of the units from offices into industrial.”
Westfield Park is located nearby the upgraded M80 and provides easy access to the major roads connecting to Stirling, Glasgow and the South. Remaining units at the site are available from 2,000 sq ft to 20,000 sq ft. This includes a fully-refurbished unit at Deerdykes Court (south) which, at 6,000 sq. ft to12,000 sq ft, benefits from a brand-new yard area and has been externally decorated with updated landscape so that motorway visibility is enhanced.