Latest Article

£21.2m investment at Eurocentral

14 April 2010  -  Work is now under way on two new buildings at Muse Developments’ Eurocentral business park in Scotland, the first speculative development to take place on the 650-acre development in over two years.

The £21.2m scheme is backed by a syndicate put together by Regent Capital and backed by Santander.  It comprises 160,000 sq ft of industrial and distribution space in two units of 67,000 and 92,000 sq ft (capable of sub-division) and will transform Plot F, the largest remaining industrial ‘Golden Contract’ development site in Scotland.

Both of the new units will be built to BREEAM ‘Very Good’ accreditation but will be designed to allow potential occupiers to increase this rating to ‘Excellent’ with ease.  Construction work is being undertaken by Muse’s sister company, Morgan Ashurst, with completion scheduled for December 2010. 

Muse’s regional director for Scotland, Stephen Turner, commented: “Our decision to go ahead with this new phase marks a significant step forward both for Muse and for the commercial property market.  We have received a number of enquiries from companies looking for new, energy-efficient facilities such as those planned for the site.”

Meanwhile, Muse has also announced that it has reached agreement with the Royal Bank of Scotland to acquire the bank’s interests in Eurocentral.

Mr Turner added: “This was a mutually beneficial business decision made as the two remaining Eurocentral Partnership shareholders – Scottish Enterprise and ourselves - move forward with the major build programme.  We will continue to work closely with RBS on a number of other projects across the UK.”

Over the last 15 years, Muse has invested £104 million at Eurocentral and developed over 1.3 million square feet of commercial space.

There are currently 45 businesses on the business park, which is situated on the A8/M8 between Glasgow and Edinburgh, with the most recent addition being the Lightbody Group.  Other companies with bases at Eurocentral include Wincanton, Warburtons, Argos, Hovis, TDG and Morrisons.

Ends.