24th May 2010 - Muse agrees deal with RBS at Eurocentral

Muse Developments has reached an agreement with the Royal Bank of Scotland (RBS) to acquire the bank's interests in the 650-acre Eurocentral Business Park, situated in Lanarkshire on the A8/M8 between Glasgow and Edinburgh.

Following the agreement, the two remaining Eurocentral Partnership Limited shareholders - Muse and Scottish Enterprise - will instigate a development programme for the remaining Enterprise Zone sites.

Construction on the £21.2 million speculative build project on what is known as ‘Plot F' of the site will see two distribution and production units created.

The construction phase, being undertaken by locally-based construction company, Morgan Ashurst, Muse's sister company, will create around 50 jobs and will bring the total level of investment at Eurocentral by Muse, to £104 million since 1995.

Steve Turner, regional director for Scotland, at Muse Developments said: "This was a mutually beneficial business decision, which was made as we moved forward with the major build programme at Eurocentral.

"We have seen a steady rise in the level of interest for new speculative developments over recent months and recognised that we had an opportunity - and the funding - to respond to this."

Already an established and successful business park with over 3.5m sq ft of developed space, Eurocentral is an ideal location for distribution companies, with direct access to and from the A8/M8 and an on-site rail freight terminal, as well as easy links to airports and sea ports.

There are currently 45 businesses on site, with the most recent addition being the Lightbody Group, which is now occupying the 71,700 sq ft Artemis building. Other companies with bases at Eurocentral include Wincanton, Warburtons, Argos, Hovis, TDG and Morrisons.