Award-winning Glasgow office building part of twin sale at Clyde Gateway
Clyde Gateway has completed the sale of the two “key” buildings to a joint venture between asset manager M7 Real Estate and overseas investors.
The properties sold, for an undisclosed sum, are the award-winning Albus building in Bridgeton and One Rutherglen Links near Rutherglen town centre.
Albus tenants include SchoolCloud, specialising in educational online support systems, which has doubled in size since relocating to Clyde Gateway and now works with 6,000 schools worldwide.
Creative agency MadeBrave, the first tenant to arrive, has subsequently doubled its staff numbers and office space.
The Albus building is also home to IT support specialist Cloud Cover IT and Peebles Media Group, whose publications include Scottish Grocer, Project Plant, Project Scotland, Packaging Scotland and Envirotec.
The tenants at One Rutherglen Links are SPIE, the international facilities management company, and Clear Business, a UK services provider in the telecoms, water and energy sectors.
Clyde Gateway’s chief operating officer, Barry Macintyre, said: “The sale of Albus and One Rutherglen Links is the latest success in our programme of developing vacant land and building modern energy efficient business premises capable of attracting and creating jobs for Scotland.
“This sale again demonstrates investor confidence in the future of offices and paves the way for further developments in the area.”
Euan Burns, director of M7 Real Estate, added: “Clyde Gateway is an exciting area that continues to see growth and investment, is well located with further infrastructure and development to come.
“We are pleased to have concluded the deal and we look forward to working with all of our tenants as they continue to make a significant contribution to the Scottish economy and boost employment prospects for the city. We believe the assets are well positioned to meet occupier demands in a post-Covid environment.”
The regeneration project covers an expansive area and aims to attract businesses of all sizes from large international organisations to small and medium-sized enterprises.
A message from the Editor:
Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions
Want to join the conversation? Please or to comment on this article.