Our final retail unit in our successful Gretna development has been sold to a private investor pension fund for £205,000. This small unit which is located adjacent to our Co-op store which was sold in 2017 to another private investor. The combined sale value of both units was just under £1M and slightly ahead of Crucible’s projections for the development when it initially commenced. Commenting on the final sale, Crucible Alba Group Development Director Brian Robinson confirmed, “We are delighted to sell our final interest in our Gretna development. No.1 Tanning Lounge are trading well from the store and this brings this development to a closure from our own perspective”.
We are delighted to have been shortlisted as a finalist in the “Rising Star of the Year” category at the Scottish Property Awards. This represents one of the top awards in the Scottish property industry and finalists are chosen by some of the top property individuals in the Country. Commenting on the shortlisting, Crucible Development Director Michael Smart commented “This is an excellent award to be in the running for and we are up against some tough opposition. The Scottish Property Awards are without doubt the top property awards ceremony in Scotland and to be a finalist represents another step forward for Crucible Alba Group”. The awards ceremony takes place in March at the Hilton Hotel in Glasgow.
Crucible Alba Group have submitted a planning application for their next Co-op Food development in Galston. The new store will provide an important town centre convenience food store for the town following the closure of the previous Co-op Food unit in the town due to structural issues with the property. Importantly the new Co-op store will include a Post Office function which was closed at the time of the previous store closing. The new store will be located within the heart of Galston town centre adjacent to the doctors surgery and library in the town. Crucible Alba Group aim to commence with the development as soon as all of the necessary statutory consents are in place.
Crucible Alba Group have sold their development site on Ayr Road in Kilmarnock to Bridgend Group who occupy a number of properties adjacent to the site. Commenting on the sale of the site Crucible Alba Group Development Director Brian Robinson commented “Our original plan was to develop the site as a mixed use retail and residential development however Bridgend Group made contact and the decision was made to sell the site to enable the company to focus on a number of other development projects which we are working on at present”.
No.1 Tanning Lounge has opened for trade on our successful Gretna development. The tenant has reported strong trading and further information can be found at www.no1tanninglounge.co.uk
Starbucks and Crucible Alba Group have submitted a planning application for a Starbucks Drive Thru at Cartsdyke Avenue, Greenock.
The proposed £1.5 million investment for a 2,200sq.ft coffee drive thru will create up to 30 jobs on the former Enterprise Zone site that has been vacant for over 20 years.
Michael Smart – Development Director of Crucible Alba Group said “We are very excited about bringing Starbucks to Greenock. Starbucks commitment to the site will allow us to undertake the enabling infrastructure which will allow the remaining one acre site to be serviced for business uses.” He added “The Starbucks development is a real coup for Inverclyde.”
Crucible Alba has completed on the sale of their Co-operative Food Store in Gretna to a private family trust in a deal worth £765,000. The development was completed at the end of May 2017 and the sale of the Co-op underpins the attractiveness of the convenience retail sector to the investment market. The remaining unit has been retained by Crucible.
In advance of the new football season, Crucible Alba Group have settled a sporting dispute in the office by sponsoring both Kilmarnock FC and Ayr United FC. New Crucible Alba Group sponsorship boards have been erected at each ground as Chairman Alex Steel is a Kilmarnock fan and Development Director Brian Robinson an Ayr United fan. Fellow director Michael Smart (a Sunderland fan) does not know what all the fuss is about…
Planning consent has been secured for the development of a Costa Coffee Drive-thru unit on a prominent site adjacent to Craigs Roundabout and the Thistles shopping centre. The development shall comprise a standalone coffee drive-thru unit which has been pre-let to Costa Coffee on a new long term lease.
Crucible Alba Group have secured an occupier for their second unit on the recently completed Gretna retail development. No.1 Tanning Lounge have commenced an extensive fit-out of the unit which shall provide a high quality beauty salon offering for the town of Gretna. The unit sits adjacent to the recently opened Co-operative Food store which is trading well since opening its doors to the public this month.
Crucible Alba Group have achieved practical completion on their roadside retail development on Annan Road in Gretna. The majority of the development was pre-let to The Co-operative Food and the development shall provide the main convenience retail offering within Gretna town centre. The Co-op entered into a new 15 year lease at £52,500 per annum.
Acting on behalf of a private individual, Crucible Alba Group’s asset management arm have recently completed a complex asset restructuring and sale which has resulted in a 90% return for the property owner. Crucible advised on the acquisition of a Jewsons unit and then negotiated a significant rental uplift on the unit, acquired the feuhold interest in the site from the local Council, sold off an adjacent plot of land and subsequently sold the remaining investment. The client made a significant profit on the transaction over an 18 month timescale.