Dominvs Group, the real estate investment, development and asset-management company, has acquired the freehold of an industrial unit in Palacecraig Street, Coatbridge, Glasgow for the group’s third commercial investment in the city.
The property, which totals 69,060 ft² (6,416 m²) is a self-contained industrial facility and is currently let to The Music Group. Coatbridge, lying 11 miles east of Glasgow city centre, provides excellent access to the A8/M8 & M74 motorways, as well as the A725, which provides good access throughout the central belt. The site itself is adjacent to the Rosehall Industrial Estate.
Ian Mudge Commercial Property Director of Dominvs Group, comments: “This is a solid investment for the commercial team as part of our strategy of investing in key UK cities. With three acquisitions in Glasgow behind us we are keen to do more as we see the city offering strong fundamentals with a quality product. Dominvs Group is looking forward to making the most of our asset management and development expertise in industrial and alternative sectors to maximise this investment in the medium to long term as the city continues on its upward trajectory.”
The latest investment brings the group’s total ft² to over 1.3 million, with a portfolio including commercial properties in Bristol, Milton Keynes, Watford, Manchester and London. In addition to the two industrial units secured in Glasgow, 2016 saw the additions of Trinity Industrial Estate in Southampton, offices in Marylebone London, Westcombe House in Royal Tunbridge Wells and Lynx Trading Estate in Yeovil.
As one of the fastest growing and responsive asset management platforms in the UK, Dominvs Group are actively seeking to grow the commercial portfolio with strategic acquisitions of both single units and multi-let properties.
