Knight Property Group has achieved a double victory at the 2025 CoStar Impact Awards, securing both the Scottish Sale of the Year and Lease of the Year titles.

The company's £40 million sale of Belgrave Logistics Park in Bellshill to Swiss Life was recognised as Scotland's Sale of the Year. Judges highlighted the transaction's net initial yield of 5.43%, which they said demonstrated strong investor confidence in the park's strategic location, sustainability features, and diverse tenant base.

David Kilgour, Development Director at Drum Property Group and a judge, commented: "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 for a significant deal at Belgrave Logistics Park. Wincanton, a major UK supply chain partner, expanded its Scottish operations by signing a 15-year lease on a 126,960 sq ft unit that was developed speculatively. Launched in April 2024, Wincanton's Scottish Gateway hub is considered one of Scotland's largest industrial transactions of the year and the most substantial letting of a speculative new build in the Greater Glasgow area since 2018.

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Iain Robertson, Relationship Director at The Royal Bank of Scotland and a judge, noted: "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, a £55 million speculative development by Knight Property Group, comprises five buildings totalling 261,193 sq ft. Developed between 2022 and 2023, the park was designed to address the shortage of new-build distribution warehousing in Scotland's central belt. Other prominent tenants include Bunzl, Likewise, and RES.

James Barrack, Chairman and Founder of Knight Property Group, expressed his delight at the awards: "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."

Lismore Real Estate Advisors advised Knight on the sale, with JLL representing the purchaser. Pinsent Masons and Brodies acted as solicitors. For the lease, Knight was advised by Ryden and JLL, while Savills represented Wincanton. Brodies and DWF were the solicitors involved.

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