8th July 2014 back to news

Livingston investment market boosted with sale of Quintiles facility

Pharmaceutical R&D facility sold by Graham + Sibbald to Ambassador Group for a price in excess of £20m

Graham + Sibbald, acting on behalf of the Keith Corporation (TKC Alba LLP), concluded the sale of the Quintiles 114,680 sq ft Research and Development facility in Livingston in June 2014, selling to Ambassador Group for price in excess of £20m.

Quintiles is a leading global pharmaceutical business that was established 30 years ago, expanding over this period of time to become the largest provider of biopharmaceutical development and commercial outsourcing services in the world.  The business has a network spanning 100 countries and staff numbers totalling 28,000.  Quintiles has helped develop or commercialise all of the Top 50 best-selling drugs on the market.  The property comprises a high specification office, laboratory and warehouse facilities and is a ‘mission critical’ facility for Quintiles and its primary laboratory for Europe and the Middle East.

Sandy Gilmour, Investment Specialist at Graham + Sibbald, commented on the sale:
“We were asked to market the investment opportunity quietly to a handpicked group of potential investors and agents with known client requirements for this type of investment.  Quintiles a world leader in its field and has invested heavily in this facility and continues to update and alter the building at considerable expense to themselves.  The facility is extremely well managed by the Quintiles FM team, a point that was not lost on the purchasers and we are grateful to the FM team for their help and assistance during the sale process. Ambassador Group is very well known to Graham + Sibbald, this being the third property investment deal we have undertaken with them in the last 12 months.  This is a significant sale, one of the largest in Scotland outside of Aberdeen during the 2nd Quarter of 2014.”

Brendan Pierce, Development Director, The Keith Corporation says:
“The Keith Corporation was pleased to have Graham + Sibbald as a part of their team. Their knowledge of the market and access to investors was an invaluable asset.  They did a tremendous job throughout the entire sale process and continually delivered for us. We were fortunate to have Graham + Sibbald representing The Keith Corporation in this important transaction.”
The facility was purpose built by The Keith Corporation in 2009, having originally built a similar facility for Quintiles in Overland Park, Kansas, US. This sale marks the end of seven year involvement for Keith Corporation and Graham + Sibbald.  Graham + Sibbald have been involved throughout the entire process proving development/agency and investment advice.

TKC Alba LLP were represented by Davidson Chalmers and Brodies LLP acted for Ambassador Group.