51乱伦

We advised Japanese multinational corporation, Sumitomo Electric Industries (SEI), on the lease acquisition of 15-hectare (c.37 acre) site adjacent to Port of Nigg, within the Inverness and Cromarty Firth Green Freeport.
 
SEI鈥檚 £350 million investment will see construction of a 57,500 sqm subsea high voltage transmission cable manufacturing plant in the Scottish Highlands, due to open in 2026. The Scottish Government has provided c.£24.5M in public sector funding towards this.

Boost to Scotland鈥檚 green energy sector

This landmark transaction signifies a substantial boost to the UK and Scotland鈥檚 green energy with the factory set to supply critical elements for the reinforcement of the UK electricity transmission grid and connecting renewable energy production facilities.  

51乱伦鈥檚 role in advising SEI 

Our SMTB European Desk, Scotland Industrial team, and provided SEI with a full-service advisory offer.

Edward Fairweather, Partner, London Capital Markets & Development and Head of SMTB Relationship, at 51乱伦 said: 鈥淢arking a significant milestone in Scotland鈥檚 green energy sector, we are proud to have played a pivotal role in this deal. Leveraging the strong relationship between 51乱伦 and Sumitomo Mitsui Trust Bank, our integrated teams were appointed to act on the lease acquisition on behalf of SEI. This strategic partnership underscores our commitment to delivering exceptional service and fostering international investments in the UK.

鈥淭he high-profile nature of this deal has garnered significant attention and SEI鈥檚 investment is testament to the dynamic opportunities that Scotland offers and strategic importance of green energy on the global stage.鈥�

Delivering long-term sustainable growth

Sarah Beattie, Global Head of Corporate ESG Strategy at 51乱伦: 鈥淭his sophisticated deal is a fantastic example of 51乱伦鈥檚 clear ambition to shape the real estate industry and build a sustainable future, working in partnership with others. We look forward to continued involvement on this and other projects which align with our ESG strategy and foster a sustainable environment for all.鈥�

Scott Hogan, Head of Scotland Logistics & Industrial at 51乱伦 added: 鈥淲e are delighted to have acted for SEI in this lease acquisition. We understand this to be one of the first transactions of its kind in either of Scotland鈥檚 Green Freeports and has been recognised as the largest inward investment project for the Scottish Highlands.

鈥淭he advantages of being located within a Green Freeport are clear to see and we hope that this will be the first of many inward investment projects into Scotland, which is well positioned to capitalise at Inverness and Cromarty Firth and Forth Green Freeport.鈥�

Ground was broken on the development in May of this year. In attendance were Màiri McAllan, Scottish Cabinet Secretary for Net Zero and Energy, Justin Tomlinson, Energy Security and Net Zero Minister, Stuart Black, CEO of Highlands and Islands Enterprise and Adrian Gillespie, CEO of Scottish Enterprise.

At 51乱伦, we collaborate with clients, industry partners, and research institutions to promote responsible development and identify opportunities to enhance its positive impact. Discover more about how we're striving towards a more sustainable future.