A.G. Barr, advised by Gerald Eve, has purchased the freehold interest of a 15,000 sq ft (1,394 sq m) office and warehouse facility in Cumbernauld, North Lanarkshire.
The soft drinks manufacturer, most famous for its IRN-BRU brand, bought Westfield House with vacant possession from a private client of Jones Lang LaSalle for £650,000 and will occupy the building itself.
Located at 2 Westfield Place, adjacent to the M73 and M80 motorways, Westfield House consists of 8.487 sq ft (788 sq m) of warehouse space and 6,342 sq ft (589 sq m) of offices, split across two floors. The site also includes planning consent for a further 10,000 sq ft (929 sq m) of adjacent warehouse space.
Jennifer Harvie of Gerald Eve’s Glasgow office comments: “The location and space available at Westfield House, together with the potential for future expansion, make it an excellent acquisition for A.G. Barr.
“For companies that have weathered the recession well, with strong balance sheets and an eye on future growth, owner-occupation is an increasingly viable and desirable option and we are seeing increased interest from corporate occupiers in these sort of deals.”
The acquisition of Westfield House follows on from A.G. Barr’s recent deal with Gazeley to develop a new 265,000 sq ft warehouse and production facility in Milton Keynes. The deal, which will see A.G. Barr purchase the freehold in the premises once construction is complete, is the firm’s largest investment in warehousing outside of Scotland.
Gerald Eve advised A.G. Barr.