SAN FRANCISCO—The Freescale Semiconductor Inc. fab in East Kilbride, Scotland, which ceased chip production two years ago, has been sold, according to a statement issued Wednesday (Aug. 17) by firms that facilitated the sale.
The East Kilbride Campus, which ceased production in 2009, was acquired by Clowes Developments (Scotland) Ltd., an Edinburgh-based real estate developer. Financial details of the transaction were not disclosed.
Freescale has maintained R&D and other activities at the East Kilbride site since the fab ceased production in 2009.
Under the terms of the deal, Clowes acquired Freescale's enitre 800,000-square-foot facility located on 26 acres of land. Freescale will lease back from Clowes 70,000-square-feet of office space for research and development, applications engineering, systems architecture and product engineering.
Clowes' plans for developing the site are not immediately known.
An aerial view of the former Freescale campus in East Kilbride, Scotland, which was sold to real estate developer Clowes Developments for an undisclosed sum.
The fab sale was facilitated by ATREG Inc., a Seattle-based global advisory firm, and its former parent company, Colliers International. The same firms advised Freescale on the 2010 sale of its other Scottish semiconductor facility located in Dunfermline to Shepherd Offshore Services Ltd.
"This is the largest industrial disposal in the West of Scotland for some years, and despite challenging market conditions, we were successful in identifying a local buyer," said Iain Davidson, director of logistics and industrial with Colliers International in Scotland. "The transaction itself was not without its complexities given the scale, nature of the site, and our client’s requirement to lease back part of the site. However, we are delighted to have secured the sale to Clowes Developments."