New industrial stock on the market

The first speculative commercial property development in Stirling in more than five years has gone on the market.

Colliers International has been appointed to let the 30,000 sq ft development of industrial units on Springkerse Industrial Estate, on behalf of owner Bluewater.

Now under construction, a total of eight units are available – ranging from 1,800 to 7,210 sq ft, where all can be combined to offer larger space.

Bryce Stewart, director of Industrial and Logistics at Colliers International in Scotland, said discussions were ongoing with a number of interested parties.

“There has not been anything like this come to the market in over five years, so naturally there is a high level of interest,” Mr Stewart said.

“Given the recovery in industry in recent years, many expanding firms are seeking new premises and they tend to favour premium quality space.

“There is a pressing demand for developments such as this one at Springkerse Industrial Estate.”

Bluewater is based in Stirling and has holdings in Dunfermline, Glenrothes, Grangemouth and west of Scotland, together with industrial estates and development land in Stirling.

The Springkerse development is due for completion in March, with rent levels and rateable values due to be assessed on completion.

In its latest property review, commercial consultants Ryden said the Falkirk/Stirling/Grangemouth corridor continued to be a attractive for a range of industrial and trade occupiers.

It noted that the projected completion of the Queensferry Crossing in May would benefit Fife and the whole of Scotland with improved connectivity between major towns and cities.

Ryden said some industrial rental growth was likely in certain areas of Fife, but the trend may be countered by concerns over the oil and gas industry and the closure of some key occupiers.

The units are the first speculative development in Stirling in more than five years.