Ibrox Business Park has changed hands in the largest single industrial estate transaction completed in Glasgow during 2021.
Buccleuch Property Group has sold the prime, multi-let industrial estate to last mile logistics property firm Mileway.
The estate is situated to the west of Glasgow city centre, just off Junction 24 of the M8, and comprises 78,674 sq ft of space arranged in 22 units, which were fully let at the time of sale.
Philip Eves, director of Buccleuch Property, commented: “We have worked hard over the past six years to enhance the estate through acquiring an adjoining ownership, relocating tenants and improving the overall appearance of the property.
“The occupational market in this location remains strong and the units are very popular with tenants who, during our period of ownership, preferred to relocate into larger units within the estate than move to a different location.
“Following the sale, we are seeking new investment opportunities to redeploy our capital.”
Buccleuch was advised by Archer Property Consultants and Ryden, while Mileway was advised by Graham and Sibbald.
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