I thought it would be considered as a good news for UK. For many decades I was surprised that the UK (government) did not pay attention to space activities and the country was lacked far behind France, Germany and even Italy (note that Italy is now producing the Vega launcher for small-sized payloads). And while cooperating with ESA (European Space Agency) I met many brilliant British engineers who had to work (and reside) in the Netherlands, Belgium and (less) in Germany just because the UK did not participate in many space programmes. Things started to change in the last 5-7 years and IMHO the idea about having a launch pad in Scotland is in line with those changes.
Commercially wise, such business will unlikely bring much profit (as the market is quite crowded) but not necessarily be a total loss. In this particular case, having LockMart behind the industrial consortium seems to be a good sign as those guys are shrewd businessmen.