Burges Salmon’s Scottish Real Estate team has advised London & Regional on the acquisition of Pyramids Business Park in West Lothian, Scotland.
The site, first developed by Motorola as a manufacturing base for its mobile phone business, totals 375,000 square feet of offices, production, studio and industrial accommodation across 93 acres. It is located approximately 20 miles west of Edinburgh city centre.
London & Regional is a global private investment company with an investment portfolio of over £9bn and offices in London, Ireland and Panama. The firm’s UK investment and development portfolio spans almost every sector – from hotels, retail and leisure to major commercial ventures and projects in partnership with the UK Government.
The company, which also owns the Atlas Hotels Group, David Lloyd Leisure and the General Healthcare Group, will be renaming the site ‘Pyramids Studios’. A planning application to expand the studios by an additional 120,000 square feet has been submitted with future longer-term developments also being considered to ensure the sustainability of the use and filmmaking in Scotland.
A number of deals have recently been agreed with occupiers including Amazon Studios and the BBC, both of which are filming at the site. Netflix and Sony Pictures Entertainment have previously filmed there.
The Burges Salmon team advising on the deal was led by Real Estate partner Robert Forman, along with team members Lauren Winters, Fay Shearer, Matthew Henson and Claire MacLean, and Victoria MacAulay from the firm’s Corporate team.
Robert Forman comments: “
We’re delighted to have worked with London & Regional to bring this transaction to a successful conclusion, adding this site to its fantastic selection and kicking off the exciting plans for this property.”