Muse strengthens its position in Scotland
A second significant lease agreement in six months by Muse Developments at Eurocentral has highlighted the continued demand for smaller, modern industrial units within the commercial property sector in Scotland.
Burtonwood Generator and Switchgear Services, whose headquarters are based in St. Helens, Merseyside, has agreed a 10-year lease with Muse and will take occupation of the recently completed, speculatively built ‘B3’ building at the premier business park in July 2012.
The company, which offers a full spectrum of supply, installation and support services across the power generation field, is moving into Scotland after securing further major work through an existing national framework agreement with BT. Additionally the new Eurocentral site will provide Burtonwood with a local base for its team of engineers in order to grow its existing generator and switchgear maintenance business with both current and new clients. The move will create eight jobs.
Their decision to relocate to Eurocentral further strengthens the position of Scotland’s prime distribution and industrial hub as a leading force within Scotland’s commercial property sector.
Muse executives believe the deal underpins the company’s decision to establish a number of speculatively built units at Eurocentral over the last two years, in the confidence that there was growing market demand from businesses looking for modern, energy-efficient and conveniently located premises.
The lease with Burtonwood follows swiftly on from the year’s first major industrial deal north of the border, when multimodal logistics giant, Eddie Stobart Ltd, agreed a 15-year lease with Muse in February.
Steve Turner, regional director Scotland for Muse, said: “The strength and appeal of Eurocentral as a prime location for business in Scotland continues to speak for itself.
“This latest deal with Burtonwood is testament to our belief that there are solid opportunities within the commercial property market and is another established name that we can add to our portfolio of occupiers.
“We started the year off on a strong footing following the deal with Eddie Stobart Ltd and with a number of other potential occupiers looking at the site, I am confident that there will be more good news to come at Eurocentral.”
Keith Littler, managing director at Burtonwood said: ”Our decision to locate to Eurocentral followed an extensive market search in and around Glasgow. We had a number of sites under consideration but none have offered the same level of overall ‘ticked boxes’ as Eurocentral.
“This is an exciting time for us and we are looking forward to moving in and to growing our business in Scotland.”
Commercial property expert, Alan Gilkison of Ryden, commented on the deal. “At a time when there is little development activity taking place, it is encouraging to see a company rewarded with such a strong interest for speculatively built products."
Scottish Enterprise is Muse Developments' long-term business partner at Eurocentral. Paul Wedlock, the economic development agency’s project manager, welcomed the latest news for the site. He said: “Eurocentral continues to lead the way in offering businesses value for money, flexibility and a prime location in Scotland, allowing them to operate with ease on a national and international level.
“This is another strong deal to have secured and one which I hope will encourage other companies to recognise the numerous benefits that Eurocentral has to offer.”
This week, Muse has agreed terms on the adjoining 6,953 sq ft ‘B2’ unit, whilst Finsbury Food Group plc announced the company has extended its lease at the Muse developed ‘Artemis’ building for a further 15 years, taking them up to 2027. The company took up the tenancy in 2009 for their subsidiary company Lightbody of Hamilton Ltd.
Ryden acted on behalf of Muse Developments to secure the deal for the 4,698 sq ft ‘B3’ building.