Henderson Loggie’s head of business recovery & insolvency Shona Campbell, who oversaw the sale, was appointed administrator of Charles Henshaw & Sons in July last year.

The transaction represents a positive outcome for Henshaw’s creditors and provides an excellent development opportunity for Mandale Group, given the site’s prime location near Edinburgh city centre.

Shona Campbell, business recovery and insolvency partner at Henderson Loggie, said: “This successful sale marks a significant achievement in what was a complex site. All parties worked together to get the deal done quickly and efficiently.

“I am pleased to have been able to deliver a positive outcome for all involved. By securing a buyer for the company site, we’ve been able to achieve a great outcome for creditors.”

The sale was a collaborative effort, with contributions of property agents JLL (Jason Hogg and Alasdair Miller), legal team Shepherd and Wedderburn (Ian Bowie and Pamela Binnie), and site security providers Clearway Scotland (Billy Reid).

Mandale Group, a Stockton-on-Tees based building and property development company, plans to revitalise the Russell Road site, marking its first industrial acquisition in Scotland.