First Letting Announced at Clyde Gateway East Business Park
Published by Anne Marie Hughes on Sat 09 Jun 12 @ 22:16
Developer SCOT Sheridan and its funding partner MEPC have announced the letting of the first unit at the £14 million Clyde Gateway East Business Park in the East End of Glasgow.
Oil and gas services company Glacier Energy Services has taken a 22,200 sq ft unit at the development on a 10 year lease as it relocates manufacturing operations from its current 16,000 sq ft base at Motherwell, as part of ongoing expansion of its business operations.
The unit will undergo an enhanced, bespoke fit-out by SCOT Sheridan and will be completed in late July. Glacier Energy Services, which employs 48 staff across its bases in the central belt, Aberdeen and Newcastle, is backed by private equity providers Maven Capital Partners and the Simmons Parallel Energy Fund, and was represented by Colliers International, Glasgow when taking on its Clyde Gateway site.
Work on the first phase of development at Clyde Gateway East began earlier this year. The Business Park is being jointly developed by SCOT Sheridan, UK business estate operator MEPC and urban regeneration company Clyde Gateway and it is hoped that it will eventually support upwards of 1,000 jobs.
Three units are currently being constructed on the site comprising 57,500 sq ft of modern, flexible business accommodation suitable for production or distribution and each featuring office accommodation, dedicated parking and secure yardage. Rental rates are £6.50 per sq ft.
Dave Sturrock, chief executive of Glacier Energy Services, said: "Moving to extended premises is a major component in our drive for significant growth across Scotland and the wider UK, giving us greater capacity for capital investment on our key products and services - and at Clyde Gateway we have a site which is fit for purpose in every respect."
Iain Davidson of Colliers International said: "Glacier Energy Services wished to relocate its existing manufacturing plant to facilitate expansion and enable the company to continue providing its customers with world-class technologies and exceptional service. We are delighted to have been able to identify and secure a new facility which met our client's exact requirements in terms of specification, budget, location and timescales."
Rick de Blaby, chief executive of MEPC said: "We're extremely pleased to welcome Glacier Energy Services to Clyde Gateway East, a development which they have seen as being perfectly suited to deliver a purpose-built base for a highly skilled workforce. It is the ideal endorsement of our original belief in the area, our belief in the vision that Clyde Gateway had promoted and our belief that with SCOT Sheridan, we could deliver a genuinely valuable real estate offer to companies like Glacier Energy Services, thereby contributing to the regeneration of the area."
SCOT Sheridan director, David MacLachlan said: "Clyde Gateway East is an outstanding proposition for prospective tenants. It's in a prime location just off the newly completed M74 four miles from Glasgow city centre and is also set to benefit from a new route, the Clyde Gateway, that will connect the M74 with the M8. This accessibility combined with the adaptability of the buildings on offer is already proving extremely attractive. There is a lot of interest in the two other units currently under construction and we hope to be able to make further announcements soon."
Steve Pritchard, executive director of development at Clyde Gateway said: "This deal to have Glacier Energy Services become the first occupant at Clyde Gateway is evidence of the widely-held view that the Scottish industrial property sector is the strongest in the UK outside of London and I am certain that the coming months will see many more prestigious companies make announcements that they too will be locating to what is a superb development opportunity in the Clyde Gateway."
More information on Clyde Gateway East is available at www.clydegatewayeast.co.uk