Ashfield Land acquires Dunfermline Lloyds site for £20m logistics redevelopment

Ashfield Land has acquired Lloyds Banking Group’s call centre building at Pitreavie Business Park in Dunfermline, with plans to redevelop the site into a high-quality industrial and logistics scheme.

The location offers strong strategic advantages for distribution, sitting next to the M90 motorway, close to Rosyth train station and near the Port of Rosyth – part of the emerging Forth Green Freeport, which is expected to drive future investment and economic growth in the region.

The acquisition was completed through a new joint venture between Ashfield Land and Euro Property Investments Limited (EPIL). The partners now intend to submit a planning application to demolish the existing building and develop a high-quality logistics scheme, with investment expected to exceed £20 million.

Lloyds Banking Group, which confirmed last year it would leave Pitreavie by 2026 to relocate operations to Edinburgh, will continue to occupy the building for around 12 months while planning proposals are progressed.

Ashfield Land says the redevelopment has the potential to deliver significant economic benefits for Fife, while strengthening Dunfermline’s position as a key commercial and logistics centre. The town already hosts major occupiers including Amazon, Sky and Babcock.

The deal marks the first completed transaction under the Ashfield Land–EPIL partnership, which is targeting further opportunities across the UK — particularly sites with short remaining lease terms where redevelopment or intensified use can unlock long-term value.

Once complete, the new development is expected to enhance the region’s logistics infrastructure and support future business growth