Eight year rental deal with Simon Howie's Rossco Properties for 181,000 sq. ft
Rossco Properties, the property vehicle for Howies real estate interests, has agreed to lease 181,000 sq ft of the total 230,000 sq. ft within the Grange Lane site on an eight-year lease.
The financial details of the deal have not been disclosed.
The complex, which is divided into 20 units, has detailed consents in place for compliance with bonded warehouse regulations.
Harry Fox, general manager for warehouse and blending at Diageo, said: "The location of this warehouse is ideal, given its proximity to our main maturation sites throughout the central belt of Scotland.
"This warehouse will be used primarily for the maturation of whisky and we expect to store in excess of 140,000 casks at Grangemouth."
Simon Howie, managing director of Rossco Properties, said: "We are delighted to welcome Diageo to Grange Lane; a property we acquired for cash in a difficult property market several years ago and have since invested significantly in making extensive repairs and improvements.
"This major letting is a vindication of our policy to specialise in the industrial sector and to target strategic locations for potential acquisitions. Indeed, Rossco is actively seeking further property deals where the fundamentals are attractive."