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News Release

Edinburgh

Texan energy firm moves into Belleknowes Industrial Estate


Edinburgh, 15 March 2013 National Oilwell Varco (NOV), a multinational oil and gas services corporation, has agreed a deal to occupy units 13 and 14 of Belleknowes Industrial Estate in Inverkeithing, Fife.

Headquartered in Houston, Texas, NOV has signed a new 15 year lease with landlord Hermes Property Unit Trust (HPUT) for the units totalling 13,876 sq ft. The multinational corporation recently acquired Advanced Production and Loading UK Ltd (APL) – the previous occupiers of Units 13 and 14.
 
HPUT was represented by Jones Lang LaSalle and NOV represented themselves in the transaction.
 

NOV is a worldwide leader in the design, manufacture and sale of equipment and components used in oil and gas drilling and production operations, the provision of oilfield services and supply chain integration services to the upstream oil and gas industry. Established in 1841, the firm holds more than 800 manufacturing, sales and service centres worldwide.

The units at Belleknowes Industrial Estate will be used by NOV as a distribution service centre, providing supply chain services to the North Sea’s drilling and production industry.

Extending to 10 acres, Belleknowes Industrial Estate comprises a total of 22 industrial units arranged in terraced rows. It is prominently located at Junction 1 on the M90 motorway, only half a mile from the Forth Road Bridge, the new Forth crossing and 12 miles north of Edinburgh. Sitting at the junction of the M90 and the A985, this position is ideally suited for access to both Edinburgh to the South, Dundee and Perth to the North and Glasgow to the West.
 
Two further units, unit 7 spanning 3,466 sq ft, and unit 15 extending to 7,150 sq ft, will shortly be made available for let, marketed by joint agents Jones Lang LaSalle and Ryden.
 
Kirsty Palmer, Associate Director for Jones Lang LaSalle, commented:
“Attracting interest from international companies such as NOV, Belleknowes has proven itself as a highly desirable business location, attracting demand from both local commerce and multinational corporations. Two further units will soon be made available, and, given the demand for accommodation on the estate, we’re expecting a strong level of interest.”