The Co-operative Estates secures major Scottish industrial sale
The Co-operative Estates has completed the sale of the former Somerfield Regional Distribution Centre at Queensferry Road, Pitreave, Dunfermline.
The property was constructed in the early 1970’’s and extends to 260,000 sq ft on a site totalling 24.3 acres. It closed as part of the comprehensive modernisation and rationalisation of The Co-operative Group’s national distribution network, and its consolidation of its Scottish distribution operation into a new 503,000 sq ft regional distribution centre at Prologis M8.
The property has been sold to FMC Technologies, Ltd., which is the UK entity of FMC Technologies Inc., the leading global provider of technology solutions for the energy industry.
Michelle Kinnes, Well Completion Systems Manager at FMC Technologies, said:
“The property was purchased to support our global operation’s long-term development plan for our Subsea businesses in Scotland. We look forward to building on the success of our well established local operations.”
Bryce Stewart, Director at Colliers International, lead agents on The Co-operative Estate’s national surplus warehouse disposals, commented:
“We are delighted to have secured such a prestigious purchaser for this property which represents one of the largest industrial deals in the East of Scotland in 2013.”
Colliers International acted for the Cooperative Estates. Further details on The Co-operative Estates’ national warehouse disposals are available at www.ukwarehouses.com