The entrepeneur boss of a property investment firm says he’s going to regenerate Bo’mains Industrial Estate in Bo’ness, as part of a multi-million pound deal.
Edinburgh-based SRA Ventures, owned by Scots tycoon Shaf Rasul, also aims to develop an industrial estate in Dumfries.
The firm, part of the E-Net group, says it aims to put “significant” investment into both sites as SRA looks to woo new tenants seeking high quality commercial units.
It is targeting companies ranging from start-ups to established blue chip brands and corporate entities.
Legal firm Gilson Gray LLP is said to be advising SRA on an additional £10million of transactions, expected to be concluded within the next three months.
Bowmains Industrial Estate, with ten units of 875 sq ft up to 7,750 sq feet, is on the southern edge of Bo’ness, close to the M9 motorway, and has two terraces of commercial and warehouse units with a communal central yard.
Mr Rasul describes himself as having become a self-made multi-millionaire in 1999, and a recent “rich list” estimated his personal wealth in the region of £82million.
SRA Ventures is said to own and manages a diverse range of industrial, retail, commercial and mixed use asset properties across Scotland.
It focuses on under-performing commercial assets, and Shaf Rasul says both Bo’mains and the other site, Lochside Court in Dumfries, will benefit from SRA’s “strong network of relationships”.
He said: “Together, these deals represent a major strategic investment for SRA Ventures, and another exciting addition to our property portfolio.
“Through sustained investment, both estates will follow in the footsteps of our original commercial base, E-Net Park in Linlithgow, creating exceptional, well-managed, high-spec accommodation, and affording strong transport links to tenants.”
Murray Stewart, head of real estate at Gilson Gray, said: “Both estates immediately stood out as having great potential to provide a fertile environment for servicing the immediate commercial needs of tenants, while also providing them with a great platform for growth thanks to a comprehensive and attractive long-term offering.
“Bowmains and Lochside Court will undoubtedly provide an exceptional base for a wide spectrum of businesses seeking well-managed units in accessible locations.”