Ashfield Lane has sold Pyramids Business Park in West Lothian to private equity company London & Regional for an undisclosed sum.
The 93 acre site, just outside Bathgate, includes 375,000 sq ft of office, distribution, warehousing, studio and production space. The current rent roll is approximately £2.3m.
The site was first developed by Motorola as a manufacturing base for its mobile phone business.
Ashfield Land acquired it in 2016 from Clearbell and has carried out a programme of active asset management and investment, resulting in the complete turnaround of the premises and 100% occupancy.
Recent deals have been agreed with occupiers including Amazon Studios and the BBC, which has chosen to film the second series of Good Omens at the Pyramids.
Other occupiers at Pyramids Business Park include ITV Studios, Baillie Gifford, Plexus, Schindler and CSignum.
London & Regional is purchasing the site freehold.
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.”
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