A PORTFOLIO OF FOUR SUBSTANTIAL GRAIN DRYING, STORAGE AND WAREHOUSING FACILITIES
The properties are being sold on behalf of the Joint Administrators of the following companies which entered into administration on 12 May 2021;
Alexander Inglis and Son Limited - In Administration
Tayside Grain Company Limited - In Administration
Inglis Grain Driers Limited - In Administration
Chad Griffin and Tom MacLennan of FRP Advisory were appointed as Joint Administrators on 12 May 2021. They act as agents of the Company and without any personal liability.
As is normal in sales by insolvency practitioners, any sale will be without any warranties or indemnities and shall otherwise be on standard insolvency terms.
All representations, warranties and conditions, express or implied, statutory or otherwise (including without limitation warranties and conditions as to rights, title or interest) in respect of the Properties or any part of any of the Properties are expressly excluded and interested parties should satisfy themselves as to the nature and extent of the Properties in the usual way.
The sale of the former Alexander Inglis and Son facilities presents a significant opportunity to acquire a portfolio of four strategically located grain stores across Central Scotland and Northern England. The four sites are well located both in terms of proximity to core cereal producing regions and accessibility to major trunk roads and motorway networks.
The total combined storage capacity for barley across all sites is c.202,700 tonnes, as summarised below. Type and quality of grain can have a material effect of capacity estimates. We understand greater tonnage has been stored in the past. Planning permission has been granted for a further grain store at the Meadow Stores site which could increase the capacity by an additional 18,000 tonnes. The previous business largely specialised in the drying and storage of malting barley and as such the storage capacities (tonnes) noted within these sales particulars are based on barley with a bushel weight of 66Kg/Hl.
Meadow Stores - 78,239 (tonnes of barley)
Charlesfield - 57,514 (tonnes of barley)
Swarland - 41,697 (tonnes of barley)
Errol - 25,310 (tonnes of barley)
All four sites are equipped with grain drying and handling plant, site offices, laboratories and weighbridges, and could therefore be readily operated as standalone facilities.
Whilst the sites are currently being utilised for grain storage they may offer potential for repurposing for alternative uses subject to obtaining the necessary consents. This may apply in particular to Errol Granaries and Swarland Grainstores, which are especially adaptable and accessible from the A90 and A1 respectively.
The sites are offered for sale as a whole or in up to 4 lots as follows:
Lot 1 - Meadow Stores, East Lothian (owned by Alexander Inglis and Son Limited) - Offers over £7,000,000
Lot 2 - Charlesfield Grainstore, Scottish Borders (owned by Inglis Grain Driers Limited) - Offers over £4,200,000
Lot 3 - Swarland Grainstore, Northumberland (owned by Inglis Grain Driers Limited) - Offers over £2,800,000
Lot 4 - Errol Granaries, Perthshire (owned by Tayside Grain Company Limited) - Offers over £2,000,000