Plots snapped up at key Perth industrial estate

Flurry of commercial deals

Demand for commercial units and land in the Perth area remains buoyant. Evidence of this can be seen by a spate of land and investment sales concluding at the end of last year, together with a number of other units currently under offer or sold in offmarket transactions. As an example of recent deal activity, acting on behalf of administrators, we sold two plots of commercial land at Inveralmond Industrial Estate for a combined total of £766,000. This is an important and established trading estate serving the Perth area, with direct access to the local and national road network. The first plot, centrally located at Ruthvenfield Way, comprises a 1.2 acre site with a temporary office structure at the front. It was bought by Crossford Properties for occupation for Auto Services Perth. The second site, purchased by Arnold Clark, is situated prominently at the entrance to the estate on Ruthvenfield Road, where there are a number of established motor dealerships. It comprises a split-level 0.4 acre yard together with a workshop. The sale of these plots followed high levels of interest and closing dates set for both. Meanwhile, a nearby 3,000sq ft detached office and warehouse building with yard on Ruthvenfield Avenue at Inveralmond Industrial Estate was sold to a local occupier for £265,000 at the end of last year. Alongside owner-occupiers, demand for commercial and industrial space is also strong among investors who are increasingly seeking opportunities away from other property investment sectors, such as retail, in order to create an income-producing asset. Of course, Inveralmond is not Perth’s only industrial estate to have seen deal activity of late. At the end of last year, we sold units 1-9 at Kilda Place, North Muirton Industrial Estate, a multi-let commercial parade, for £800,000 to a private investor. We are confident that the level of demand for commercial land and units in the Perth area will remain buoyant throughout 2020.

Picture: Dougie Nicolson. Auto Services Perth will move into a site at Inveralmond Industrial Estate in Perth.