HSBC Specialist Investments has entered into an agreement to provide the equity for the development of an over 1 million sq ft distribution centre for Amazon in Dunfermline, Scotland.
This is one of the largest funding transactions in the history of the Scottish distribution market and the unit will form one of the cornerstones of Amazon’s expanding U.K. distribution network. Scottish Enterprise, Scotland’s main economic development agency, has been working with Amazon to secure this investment and will be providing grant funding to support the project.
The appointed developer on the scheme is Graftongate Investments and construction is anticipated to complete in Q4 2011.
James Cooper, Director, European Real Estate Investment, commented:
“It was a pleasure working with Amazon to assist in expanding their U.K. distribution network. This complex transaction was delivered within a very tight time-scale whilst meeting our added value criteria."