Knight Property Group Celebrates Double Win at 2025 CoStar Impact Awards

Knight Property Group has just completed a double victory at the 2025 CoStar Impact Awards, securing prestigious accolades in both the Scottish Sale of the Year and Lease of the Year categories.

Knight’s £40 million sale of Belgrave Logistics Park in Bellshill to Swiss Life was singled out by judges as Scotland’s Sale of the Year. The transaction reflected a net initial yield of 5.43%, underscoring investor confidence in the park’s strategic location, sustainability credentials and robust tenant mix.​

Judge David Kilgour, Development Director at Drum Property Group, said: “The price achieved rewards the risk the developer has taken in pushing through their vision. It represents a well-valued investment rather than taking advantage of a market low point.”

Knight also secured Scotland’s Lease of the Year with a major deal at Belgrave. The deal saw Wincanton, a leading supply chain partner for UK businesses, expand its Scottish operations by securing a 15-year lease on a 126,960 sq ft speculatively developed unit. Launched in April 2024, Wincanton’s Scottish Gateway hub represents one of Scotland’s largest industrial transactions of the year and the most significant letting of a speculative new build in Greater Glasgow since 2018.

Judge Iain Robertson, Relationship Director at The Royal Bank of Scotland and said: “One of the few new build industrial assets in the Scottish market in recent years, the asset/lease not only delivers additional space for the tenant but will allow recruitment of additional staff into the site.”

Belgrave Logistics Park is a £55 million speculative development by Knight Property Group, comprising 261,193 sq ft across five buildings. Developed between 2022 and 2023, it was designed to address the shortage of new-build distribution warehousing in Scotland’s central belt. Other key tenants include Bunzl, Likewise, and RES.

James Barrack, Chairman and Founder of Knight Property Group said: “We are incredibly proud and humbled to receive two CoStar Impact Awards. We acquired the site with the intention of redevelopment, aiming to revitalise it and bring it back into productive use for business and economic growth. The creation of a brand-new, speculatively developed logistics park designed to attract a diverse range of occupiers has been a significant achievement. Competing against so many outstanding entries, this recognition is a true testament to the dedication of our team, advisers, and partners.”

For the Sale, Knight was advised by Lismore Real Estate Advisors, with JLL representing the purchaser. Solicitors were Pinsent Masons and Brodies.

For the Lease, Knight was advised by Ryden and JLL, while Savills represented Wincanton. Solicitors were Brodies and DWF.

The project team was: Architect – SPACE Solutions; Engineer – Fairhurst; QS/CA – Axiom, M&E – Wallace Whittle; Main Contractor – Clark Contracts.

Knight Property Group Scoops Prestigious 2025 Scottish Property Award

The Annual Scottish Property Awards 2025 was held in Glasgow, with more than 600 guests attending. The highly anticipated Deal of the Year award, sponsored by PMP, was awarded to Knight Property Group.

The deal saw Wincanton, a leading supply chain partner for UK businesses, expand its Scottish operations by establishing a new distribution centre and securing a 15-year lease on a 126,960 sq ft speculatively developed unit at Belgrave Logistics Park in Bellshill, North Lanarkshire.

This landmark transaction was one of Scotland’s largest industrial deals of the year and the most significant letting of a speculative new build in the Greater Glasgow market since 2018.

James Barrack, Chairman and Founder of Knight Property Group said:

“Securing Wincanton for this deal was a significant achievement and being recognised at the Scottish Property Awards is a huge honour. Our commitment to developing top-tier speculative units in prime locations across Scotland remains a cornerstone of our ongoing strategy.”

The judges praised the project as a bold and speculative venture, well-conceived with a strong green design. They also highlighted the significance of the letting in the current constrained industrial market, acknowledging the impressive journey behind its execution.

Ryden and JLL were agents for Knight Property Group, whilst Savills represented Wincanton. Solicitors were Brodies and DWF. The project architect was SPACE Solutions, the engineer was Fairhurst, QS/ CA was Axiom, Wallace Whittle were M&E, with the main contractor Clark Contracts.

Knight scoops top accolade at the Scottish Property Awards 2023

Knight Property Group was presented with the Development of the Year (Commercial Buildings) Award 2023 for its brand new speculative scheme, Belgrave Logistics Park in Bellshill.

The award, sponsored by Ryden, was presented at the Scottish Property Awards, Scotland’s national competition which recognises excellence in commercial real estate across the country. The ceremony was held at a packed-out event at the EICC in Edinburgh, with more than 650 guests in attendance.

The independent judging panel of industry experts and professionals assessed and deliberated over 60 entries in 17 categories this year.

Alan Robertson, Chair of the Judging Panel, commented:

“Thank you to everyone who entered and participated in the 10^th annual Scottish Property Awards and to our major sponsors Peace Recruitment and PMP. I send you all our very many congratulations and wish you all continued success in the year ahead.”

Howard Crawshaw, Managing Director of Knight Property Group added:

“It is a huge honour for our entire team to have been recognised for our development at Belgrave Logistics Park, particularly against such strong competition. We are extremely proud.

“We took on the challenges of speculative development to create a brand new, high-specification and sustainable logistics park, suitable for the demands of the 21^st century and designed to appeal to a wide variety of occupiers. With demand for green buildings, ESG and sustainability credentials are at the very heart Belgrave, which has helped ensure excellent market demand.”

Knight Property Group was also a finalist in the Property Company of the Year category and non-executive director, Stuart Heslop was awarded the prestigious Business Leadership Award.

James Barrack honoured at the Scottish Property Awards 2022

Knight Property Group finalist in hat-trick of property awards

Elevator Award's Entrepreneur of the Year 2019

James Barrack, Managing Director of Knight Property Group and chairman of Chess Group was named as 2019’s Entrepreneur of the Year. The property developer has been and continues to be hugely influential in the commercial property sector, successfully growing the group for more than twenty-one years. His community driven initiatives and longstanding support of The Prince’s Trust were also praised by industry peers.

Entrepreneur of the Year, James Barrack, said: “I am honoured to be named Elevator’s 2019 Entrepreneur of the Year. To be a successful entrepreneur you need to have a supportive team around you; I would like to share this recognition with my team and thank them for their unparalleled commitment to Knight Property Group and Chess Group. “Entrepreneurship is more than just running a business; it is a journey we are all on together. The support businesses receive from Elevator is instrumental in helping them grow from the foundations up. The team’s support continues to be influential for our region’s economy and its thriving entrepreneurs, helping each fulfil their dreams and ambitions.”

4 North titled Deal of the Year 2018 at Scottish Property Awards.

Knight Property Group were awarded Deal of the Year for the landmark Edinburgh redevelopment, 4 North at the 2018 Scottish Property Awards. The award-winning deal involves the pre-let of the entire property at 4 North, St Andrew Square to Computershare on a 20 year lease at rental level which have set a new high for offices in Edinburgh.

Director at JLL, Cameron Stott said “Knight Property Group continue to provide high quality office accommodation in both Aberdeen and now Edinburgh. The success they have achieved in Aberdeen despite the downturn has been a testament to the company’s work. Having continued their expansion out with the North East, the team have successfully developed their presence by securing Computershare’s new Headquarters in the city centre, emphasising the company’s ability to spot sound investment opportunities and shows their keen eye for detail.”

Knight Property Group awarded Best New Build outside Central London.

Knight Property Group’s development, The Capitol, on Union Street continues to bring success to the company. It was awarded Best New Build outside Central London at the OAS Development Awards 2017. Since reaching completion, the £35 million project has been awarded a number of high calibre awards, with the most recent being Business Council for Offices regional Commercial Workplace of the Year and OAS Awards Best New Build outside Central London.

In addition to the building itself, Knight Property Group have also been recognised by Scottish Property Awards for City Centre Regeneration Project of the Year which celebrated the positive impact that the redevelopment of The Capitol had on Aberdeen City.

Knight Property Group awarded 'City Regeneration of the Year' at Scottish Property Awards

Knight Property Group have been awarded ‘City Regeneration of the Year’ at the 2016 Scottish Property Awards. The 3rd annual Scottish Property Awards, the independent programme which celebrates excellence in commercial property, revealed 18 winners across 16 categories with winners spanning the country.The Capitol on Union Street, a joint venture between Knight Property Group and M&G Real Estate collected the prize for City Regeneration Project of the Year.

Fiona Morton, Chair of the Scottish Property Awards judging panel, commented,“Congratulations to all our finalists and winners announced in the 3rd Scottish Property Awards. I know how tough the competition is and how important it is to win. Judging was a terrific opportunity to assess the many great developments going on in our sector across the country and encouraging seeing some really good examples of regeneration, innovative design and excellent sales and marketing.”

Top Industry Awards for The Capitol building

The Capitol office building on Union Street, Aberdeen, has been recognised as one of the best workplaces in Scotland. The BCO awards recognise the highest quality developments in the UK and sets the standard for excellence in the regional and national office sector.

The Capitol was crowned as the winner of the best commercial workplace category at the British Council for Offices’ (BCO) regional property sectors awards Judges claimed The Capitol, a join venture between Knight Property Group and M&G Real Estate was “one of the finest exampled of regeneration in action.” They also said the refurbishment of the former cinema was a “Masterclass in high-quality building restoration.” BCO Chief executive Richard Kauntze said, “The Capitol has provided an addition to the office market that Aberdeen can be proud of for many generations to come.”

36th Grampian Industrialist of the year

The 36th Grampian Industrialist of the year was named as James Barrack.

The annual event organised by Junior Chamber International (JCI) Aberdeen recognises outstanding commercial success. Mr Barrack, 45, is chairman and managing director of Knight Property Group and Chess Group.

JCI Aberdeen President David Derbyshire said: “James has led and grown Knight Property Group and Chess Group over a 15-year period, both organically and through joint venture. James represents the importance and strength of family businesses in the north-east economy, which is a great tradition of this award. In his business achievements, as well as his commitment to the Prince’s Trust in Scotland, James represents what the Grampian Industrialist Award is all about.”

James had this to say: “I am delighted. Above all, this is recognition of the hard work and long-term commitment of the team at Knight and Chess over many years. It also highlights the importance of property development in the local economy, as an enabler of growth for other sectors.”

Scottish Developer of the Year 2009

Knight Property Group was named “Developer of the Year” at the prestigious Scottish Property Awards 2009 hosted by Property Week in Edinburgh.

Knight Property Group contested the title alongside some of the country’s biggest names in property, namely BAM Properties (formerly HBG Properties), Buccleuch, Macdonald Estates, Premier Property Group and Scottish Widows.

Deals were concluded during the period with the Abu Dhabi National Oil Company – Taqa Bratani, Bristow Helicopters, Total E+P, Seabrokers, Eurocopter, BlueSky Business Space and Fugro Improv. Furthermore, both the single largest office letting and private sale were concluded by Knight Property Group at its Westpoint Business Park development.

James Barrack added: “Everyone at Knight Property Group is proud and honoured to receive this accolade which was voted for by fellow professionals in the industry.

We would like to thank all our tenants, property agents, professionals, contractors and suppliers who have worked closely with us over this time and helped make this award a reality.”