Clyde Gateway Industrial Unit Building, Bradda Capital Regeneration Project News, Design
Clyde Gateway Industrial Unit News
3 Dec 2020
Clyde Gateway East business park News
Clyde Gateway Announces £3.2m Sale Of Spec-built Industrial Unit
Clyde Gateway, one of Scotland’s biggest and most ambitious regeneration programmes, has completed the sale of a prime industrial investment at its Clyde Gateway East business park. The 28,000 square foot industrial unit was built on a speculative basis and has been purchased by Bradda Capital for £3.2m yielding 6.04% net. The property is leased to the Japanese pump manufacturer Torishima Service Solutions Europe for its European Headquarters.
Clyde Gateway East at Junction 2A on the M74 motorway is recognised as one of the central belt’s premier business parks. Development carried out over the last 24 months by co-proprietors Clyde Gateway, Aberdeen Standard Investments and Harris Finance has produced five new prime industrial warehouse units, all of which are now leased and bring the total occupied floorspace in the business park to 246,000 square feet. The last three development plots are currently under offer.
The business park is already home to high calibre occupiers including BT, Cusack Tools, Dentec Scotland, Glacier Energy Services, Greencore, Eden Mill, Smith Brothers and Network Rail.
Clyde Gateway’s Chief Operating Officer Barry Macintyre said: “This investment sale once again underlines the attraction of the commercial assets being created by Clyde Gateway and the willingness of private sector investors to support the new economic landscape in the East End. The fact that this deal has been completed in the midst of the current pandemic illustrates the robust and long term nature of this transformation.”
David Phillips of Bradda Capital said: “This is one of a series of important high quality recent investment acquisitions for our new fund. The park’s success demonstrates the importance of regenerating long term vacant land to create high quality space to meet tenant demand resulting in strong investor value.”
Clyde Gateway was assisted in the development by partner organisations Glasgow City Council and Scottish Enterprise, with funding from the Scottish Partnership for Regeneration in Urban Centres (SPRUCE). Clyde Gateway was represented by Avison Young and Burness Paull with Ryden and CMS acting on behalf of Bradda Capital.
Established in 2008, Clyde Gateway has seen over £1.5 billion invested in the area in the last 11 years from both the public and private sector. Clyde Gateway covers an expansive area with opportunities existing for all types of businesses, from large energy sector international organisations looking for the ideal location to trade, to SMEs which require a modern but cost-effective location for their offices.
Bradda Capital is exclusive real estate advisor to its long established UK real estate funds focused on delivering sustainable long term returns.
Clyde Gateway Industrial Unit news from Clyde Gateway 031220
Previously on Glasgow Architecture:
Clyde Gateway Award
Clyde Gateway wins RICS Award
The Royal Institution of Chartered Surveyors (RICS) has named Clyde Gateway as the top regeneration project in the UK ahead of many other prestigious and high-profile projects including the London 2012 Olympic Park.
Rutherglen Glencairn Social Club
Design: Studio KAP, architects
photo © Keith Hunter
Clyde Gateway Stadium
photo : Richard Davies
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