13 August 2021
Sale of industrial property in Irvine completes
London & Scottish Property Investment Management (LSPIM), the asset manager for Regional REIT Limited, has completed on the sale of an industrial unit and surrounding land at Crompton Way, Irvine. LSPIM was advised on the disposal by Inglis Howie.
The property, which LSPIM acquired for Reginal REIT in 2014, contains a 97,148 sq ft industrial unit that is wholly let to Amer Sports on a long-term lease until 2028. Last September, LSPIM sold 17.3 acres of undeveloped land on the site to Persimmon Homes for residential development. The sale of the remaining land and industrial unit represents the conclusion of LSPIM’s business plan for the property.