Eight developers battled it out to secure an 18.45-acre site on Cliftonhall Road, Newbridge, West Edinburgh reflecting the scarcity of industrial development land in the area.
The winning bid came from Upland Developments, which has secured planning consent for a 267,000 sq ft scheme. It will speculatively develop a 60,000 sq ft first phase, which will be divisible into units from 5,000 sq ft and upwards. It is also offering design and build packages for companies with larger requirements.
Neil McAllister of Ryden, which advised the sellers Alex Brewster & Sons, said: “The number of offers received is recognition by developers of the scarcity of good quality land available for industrial development in West Edinburgh.”
He added: “There is also very little existing second-hand industrial accommodation available and rental levels for good quality buildings are now between £6.50 and £7.50 per sq ft.”
The original quoting price for the land was offers in excess of £150,000 per acre.