Lights, camera, action at The Pyramids site
Business park will be home to new studio
The Pyramids Business Park in Bathgate has been sold and will become the new home of a £2 million film studio.
Ashfield Land has sold its Pyramids Business Park to London & Regional, with the idea of redeveloping the site into a platform for film and TV production.
Deals have recently been agreed with BBC and Amazon, who have been recording the second series of Good Omens, starring Bathgate-born actor, David Tennant.
Director Danny Boyle made Trainspotting sequel T2 at the site and it could also be used for filming in the near future by the likes of ITV, Baillie Gifford and Plexus.
It will be named Pyramids Studios under plans to significantly expand and develop its production facilities. The site was originally occupied by Motorola as a manufacturing base for their mobile phones, totalling of 375,000 square feet of office, production, studio and industrial accommodation across 93 acres.
Ashfield Land then acquired the land in 2016 and has carried out a programme of active asset management and investment, resulting in the complete turnaround of the premises and 100 per cent occupancy.
Steven McGarva, director at Ashfield Land, said: “The market for studio and production space is strong right now and this deal allows us to exit Pyramids at the right time having completed our asset management plans, generating a significant positive return for the business.
“We have loved working with our occupiers, West Lothian Council and other stakeholders, but now is a good time to pass the reins to someone else and to look at other opportunities where we can apply our skills in re-purposing assets and delivering impactful development.”
Ashfield Land has recently strengthened its team with a series of new hires and is actively looking for investment and development opportunities nationwide in line with its 30+ year track record of successful property development.
Andrew Fisher, managing director at Ashfield Land, said: “Successful commercial property ownership and investment is about creating opportunities, working hard to provide what people want, and knowing the right time to transact.
“The opportunity with London & Regional comes at a great moment for us and for Pyramids which can now go forward serving the burgeoning film and TV market, while we can recycle capital into new assets and ventures.”