Plans hatched for massive 200,000 sq ft industrial scheme at Eurocentral, next to M8 (original) (raw)

“The proposed design sets a new benchmark for industrial and logistics space along the M8 corridor” – Iain Davidson, Colliers

Plans have been submitted to deliver more than 200,000 square feet of “much-needed” industrial and logistics space at a key Central Belt site.

Developers Manse and J Smart & Co have formed a joint venture and submitted a planning application to North Lanarkshire Council for a new industrial and logistics development at Eurocentral, which is located next to the M8 motorway, between Glasgow and Edinburgh.

The proposed scheme, called Eurocentral Gateway, would deliver in excess of 200,000 sq ft of new industrial and logistics space - making it one of the largest such speculative developments in recent years.

An image showing the location of the proposed Eurocentral Gateway development next to the M8 motorway.

The development - located within the fully let Eurocentral business park - occupies a highly prominent, elevated position immediately adjacent to the new junction 6A junction of the M8 motorway and the Chapelhall junction of the A8, which the developers said would provide “exceptional access, connectivity and profile”.

Highlighting the continued shortage of new prime industrial and logistics accommodation across the Central Belt, and a record low vacancy rate along the M8 corridor of circa 2.5 per cent, the scheme’s backers said Eurocentral Gateway was expected to attract strong interest from “occupiers seeking modern, well-located space”.

CBRE and Colliers have been appointed as joint letting agents for the scheme and are “actively encouraging” occupiers to explore pre-let opportunities ahead of construction and subject to planning consent.

Craig Semple, director at CBRE Scotland, said: “Eurocentral Gateway represents an exciting opportunity to bring high-quality industrial and logistics space to the market.

“Demand for prime accommodation across Scotland remains very strong, particularly in established locations such as Eurocentral, so this development will be a welcome addition for occupiers seeking modern, sustainable space. We are encouraging businesses to engage early and explore the potential for pre-let opportunities.”

Iain Davidson, director in Colliers industrial and logistics team, said: “With new supply of premium industrial space in the west of Scotland remaining tight, the development of Eurocentral Gateway with its exceptional connectivity, state-of-the-art specification and sustainability credentials will be a welcome opportunity for the sustained occupier demand we’re seeing in the market.

“The proposed design sets a new benchmark for industrial and logistics space along the M8 corridor, offering potential tenants a best-in-class operational property,” he added.

A number of major developments have been announced in the past couple of years to help address the demand for industrial, storage and distribution space in and around Scotland’s Central Belt.

Meanwhile, last summer, a deal was signed for Scotland’s largest speculative industrial and logistics letting in decades.

The agreement was one of two announced by development and asset manager Canmoor Asset Management for two new, speculatively developed buildings, totalling almost 300,000 sq ft at Westway, next to Glasgow Airport.

The UK government signed a long lease on Westway 200, a 202,862 sq ft unit, which was completed in early July. The deal is understood to be the largest speculative industrial and logistics letting north of the Border in around three decades.

Meanwhile, Westway 90, extending to 88,017 sq ft, was let to sustainable packaging technology company Pulpex, under a 20-year lease.