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.
A full list of winners can be found at: WINNERS
