Multi-million-pound Clyde Gateway sale provides fresh boost for west coast property market
The 28,000-square-foot unit at Clyde Gateway East business park was built on a speculative basis and has been purchased by Bradda Capital for £3.2 million. The property is leased to the Japanese pump manufacturer Torishima Service Solutions Europe for its European headquarters.
Clyde Gateway East is located at junction 2A on the M74 motorway. Development carried out over the past two years by co-owners Clyde Gateway, Aberdeen Standard Investments and Harris Finance has produced five new industrial warehouse units, all of which are now leased.
The business park is already home to the likes of BT, Eden Mill 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 added: “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.”
Established in 2008, Clyde Gateway has seen more than £1.5 billion invested in the area from both the public and private sectors.
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