Borders trade park sold for almost £9m in face of 'unprecedented times'

A major Borders business and trade park has changed hands in a near-£9 million deal.

Tuesday, 28th July 2020, 12:29 pm
The Galbraith investment team has concluded the sale of Galabank Business and Trade Park, Galashiels on behalf of Abercastle Investments.
The Galbraith investment team has concluded the sale of Galabank Business and Trade Park, Galashiels on behalf of Abercastle Investments.

The investment team of property firm Galbraith said it had concluded the sale of Galabank Business and Trade Park, Galashiels on behalf of Abercastle Investments.

Following formal marketing and receiving competitive bids pre-lockdown, the park was sold to M7 Real Estate for £8.6m.

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The site comprises an HQ office building, a multi-let office and a trade park and is let to occupiers such as Kyowa Kirin International, Jewson and Rexel UK.

Jamie Thain of Galbraith said: “The investment attracted good interest due to its significance within the location, quality of accommodation and strong tenant line up.

“It is a clear example of continued investor appetite for well-presented investments with ongoing asset management potential, even in these unprecedented times.”

Galbraith and Morton Fraser advised Abercastle while Colliers International and DWF advised M7 Real Estate.

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