ATREG and Colliers International have secured the sale of Freescale Semiconductor’s East Kilbride, Scotland facility to Clowes Developments (Scotland) Limited, a property developer. However, Freescale is said to be leasing back 70,000 sq. ft. of campus offices from Clowes for research and development, applications engineering, systems architecture, and product engineering purposes. This agreement maintains Freescale’s presence at the location.
“This is the largest industrial disposal in the West of Scotland for some years, and despite challenging market conditions, we were successful in identifying a local buyer,” noted, Iain Davidson, director, logistics and industrial with Colliers International in Scotland. “The transaction itself was not without its complexities given the scale, nature of the site, and our client’s requirement to lease back part of the site. However, we are delighted to have secured the sale to Clowes Developments.”
The facilty complex was put up for sale in 2Q 2010.