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.
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.
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.
A message from the Editor:
Thank you for reading this story on our website. While I have your attention, I also have an important request to make of you.
The dramatic events of 2020 are having a major impact on many of our advertisers - and consequently the revenue we receive. We are now more reliant than ever on you taking out a digital subscription to support our journalism.
Subscribe to scotsman.com and enjoy unlimited access to Scottish news and information online and on our app. Visit https://www.u2swisshome.com/subscriptions now to sign up.
By supporting us, we are able to support you in providing trusted, fact-checked content for this website.
Want to join the conversation? Please or to comment on this article.