Alchemist Estates develop and lease former Johnnie Walker warehouse
Semple Fraser recently acted for Alchemist Estates in the development and lease of the 55,000 sq ft former Johnnie Walker bonded warehouse in Kilmarnock to East Ayrshire council.
In one of the biggest deals of its kind in Scotland so far this year, the council has signed a 20-year lease on the office space on Strand Street, which Alchemist purchased for £650,000 in 2002.
Total rent generated by the 70,000 sq ft scheme, which is part-let to Cafe da Vinci and outdoor retailer Torbetts, tops £500,000 pa.
The council will take occupancy of the building following an internal fit-out scheduled for early 2010.
Semple Fraser provided all property and construction legal advice to the Glasgow-based developer. Brian Gillies, managing director of Alchemist said:
"The significance of this deal cannot be underestimated in the current climate."
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