A high-tech research and development unit at the Scottish Enterprise Technology Park in East Kilbride has been sold in a £3.75 million deal.
The Reynolds Building, home to engineering and scientific consultancy TUV SUD NEL’s £16 million Advanced Multiphase Facility, has been bought by an investor from Scotland’s HFD Property Group.
The deal comes 18 months after the 20,000 sq ft site was completed with support from a grant from Scottish Enterprise and significant investment from TUV’s parent company, creating and safeguarding around 100 skilled jobs.
The building has been sold to a trust connected to the family which founded Welsh building group Watkin Jones.
Stephen Lewis, managing director at Bellshill-based HFD Property Group, previously managed the East Kilbride site while at Colliers. He said: “The continuing strong investment demand for high-quality industrial assets was sufficient for us to sell the Reynolds Building. We now plan to recycle the proceeds into further acquisitions and investments.”
Avison Young and Pinsent Masons acted for HFD, while Ryden and Shoosmiths represented the Glyn Watkin Jones 1999 Hybrid Settlement Trust .
