Ashfield Land and Euro Property Investment Limited (EPIL) plan to redevelop the Lloyds Banking Group’s call centre building at Pitreavie Business Park in Dunfermline, Scotland, into a 200,000ft2 industrial and logistics hub.
The site is located adjacent to the M90 motorway, minutes from Rosyth train station and close to the port of Rosyth, providing excellent transport links.
Ashfield Land, which acquired the site through a joint venture with EPIL, said it will bring forward a planning application to demolish the existing call centre building and deliver a new £20m high-quality industrial and logistics development.
Lloyds, which intends to relocate its operations to Edinburgh, will continue to occupy the building for around 12 months while the planning process progresses.
Declan O’Neill, associate at Ashfield Land, described Pitreavie Business Park as “a highly strategic site with outstanding potential for commercial development”.
The project is the first secured by the Ashfield Land and EPIL partnership, which has ambitions to develop opportunities across the UK.
Steven McGarva, managing director North at Ashfield Land, said: “We are exploring further investment opportunities together and we’re excited about what our new joint venture can achieve in the years ahead.”
The planned distribution and logistics development at Pitreavie Business Park is expected to strengthen Dunfermline’s strong list of commercial occupiers, which already includes Amazon’s major logistics hub, Sky and Babcock.
MacLaren & Partners LLP and Wood Advisory represented EPIL on the deal.
