Trio of deals by property developer Buccleuch

An Edinburgh-based property investor and developer that is one of Europe’s largest private landlords has made a series of industrial acquisitions amounting to more than £4 million, including one in Glasgow for nearly £1m.

Buccleuch Property said it has bought four terraces of industrial units spanning two buildings totalling nearly 12,600 square feet in Ibrox for £975,000, representing an initial yield of about 9.25 per cent. The self-contained site comprises 12 industrial units ranging between 1,000 sq ft and 3,180 sq ft and Ryden acted for Buccleuch on the purchase.

The firm has also bought a unit of about 40,000 sq ft in Newcastle for £2.55m, and a 32-unit industrial estate spanning 22,841 sq ft in the West Midlands for £1.575m.

Director Philip Eves said: “We continue to seek more deals of this nature. The industrial property market is buoyant, with growing tenant demand for modern accommodation. This sits against a backdrop of restricted supply and development pipeline. ”