Hargreaves Land is pleased to announce the sale of Ravenstruther Rail Terminal near Lanark in South Lanarkshire, to leading decorative aggregate supplier, Cloburn Quarry Co Ltd.
This transaction follows the leasehold deal announced between the two parties in early 2020, when Cloburn became tenant of the site as part of its plans to commence distribution via rail to service its customers throughout the UK and Europe.
The site’s future has been secured as Cloburn now looks to invest in its operations to meet demand for red granite aggregate products, which are extracted from its nearby quarry.
Successful trials involving a test locomotive were completed at the railhead in July this year following various track infrastructure improvements, allowing large-scale exportation of aggregates via the national rail network to start in the coming weeks.
Andrew Johnson, head of asset management at Hargreaves Land, said: “Cloburn’s initial lease period allowed them to carry out their due diligence and evaluate the site’s full potential. With the capital expenditure required to bring the facility back into operation, Cloburn wanted to take a longer-term view and we were delighted to be able to offer them the opportunity to purchase the site. It was a pleasure dealing with Stuart Clingan throughout both transactions and fantastic to see more freight making its way back to the national rail network in light of the reduction over recent years, not to mention the inevitable reduction in carbon this will lead to over the life of the project.”
Stuart Clingan, managing director at Cloburn, added “This is a very positive deal for all concerned, securing the long-term future of the site and paving the way for a new phase of growth and development under Cloburn’s ownership.”