Developer SCOT Sheridan and its funding partner MEPC have announced the completion of the first phase of industrial and warehousing development at Clyde Gateway East Business Park in the East End of Glasgow.
Three units comprising a total of 57,750 sq ft of modern, flexible industrial space with an investment value of £4.0m have now been created at the Business Park, a joint development between SCOT Sheridan, UK business estate operator MEPC and urban regeneration agency Clyde Gateway. It is hoped that the Park will eventually support upwards of 1,000 new jobs.
The first occupier, oil and gas services company Glacier Energy Services, has now moved into a 22,230 sq ft unit following a bespoke fit-out and interest is strong in the remaining 19,270 sq ft and 16,250 sq ft buildings. Once a second letting is confirmed, work is expected to begin on a second phase of speculative development at the site. Quoting rents on the two remaining completed units, which also feature office accommodation, dedicated parking and secure yardage, are £6.50 per sq ft.
MEPC and CBRE have taken over estate management responsibilities for the whole Business Park with a new marketing and security suite housing a 24/7 security operation already in operation. Estate CCTV security will be installed during September.
Grant Edmondson, Managing Director of MEPC Clyde Gateway said: "The first phase development has been completed on schedule and is a high quality product. It’s extremely rewarding to see our first occupier, Glacier Energy Services, already moved in and operational which gives vitality to Glasgow’s newest business estate from the start. We are hopeful that a second unit will be taken up soon, at which point we intend to start work on the next speculative phase to maintain a development pipeline and meet occupier demand which in turn will bring more investment and jobs to the area.”
SCOT Sheridan director, David MacLachlan said: "The East End of Glasgow is undergoing significant change and regeneration at the moment and Clyde Gateway East Business Park is at the heart of this as a commercial location that we believe will help to attract much-needed jobs to the area. Its modern, adaptable buildings located just four miles from Glasgow city centre and adjacent to some of the country’s main arterial routes make this an exceptional proposition for prospective tenants and we look forward to making further announcements about the site very soon.”
Steve Pritchard, executive director of development at Clyde Gateway said: "I’d like to congratulate MEPC and SCOT Sheridan on the fantastic progress they have made at Clyde Gateway East and I’m looking forward to other firms moving in alongside Glacier to what is undoubtedly Scotland’s best connected Business Park.”
Business Parks
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