Savills has launched an extensive residential development opportunity in the heart of the expanding town of Cumbernauld in central Scotland.
The 11.97 acre site, to be vacated in 2022 by HM Revenue & Customs, comprises a series of six interconnecting buildings extending over five storeys. It will be sold with the benefit of planning permission in principle, with an indicative capacity of 160 units with associated access, car parking and landscaping. Any demolition works associated with development will require to be undertaken by the purchaser.
Cumbernauld, with its 50,000 strong population, is a major employer and a head office location for a number of well-known companies such as Mackintosh, Farmfoods, OKI UK, Yaskawa Electronics and A.G. Barr. Its location at the heart of Scotland’s motorway network also makes it a popular commuter location: it lies just 15 miles north west of Glasgow city centre via the M80; 16 miles south of Stirling and 40 miles west of Edinburgh. Cumbernauld Train Station, only a mile away, provides regular connections to Glasgow Queen Street and Edinburgh Waverley.
Future residents will be well served by retail provision including Antonine Shopping Centre, just a few meters south of the site. Schooling is close at hand at St Mary’s RC Primary School, Ravenswood Primary School and Cumbernauld Academy, whilst the Cumbernauld Campus of New College Lanarkshire is also nearby.
Jamie Doran, director in Savills development team said: “We are delighted to introduce this fantastic residential opportunity to the market in one of Scotland’s popular commuter locations, particularly as there is strong demand from housebuilders and developers for residential development opportunities across West Central Scotland at present. It has become available due to relocation of the HMRC offices, and the fact that Permission in Principle is already in place will make it particularly appealing for many housebuilders in the market.”
A lease is currently in place to HMRC until June 30, 2022 and the purchaser will therefore benefit from a stream of income until the expiry date.