Sky's the limit after business park deal

PROPERTY investors Moorfield and Resonance Capital are preparing to pump more than £2 million into Glasgow's Skypark as they search for a second major acquisition in Scotland.

Work to overhaul the infrastructure at Skypark, a 552,744 square feet development in the Finnieston area of the city, is expected to start within three months as its owners strive to create a "community feel" at the facility, which is home to nearly 3,000 employees.

The first phase of the 2m-plus facelift will see an upgrade of the site's main entrance from Argyle Street. The refurbishment programme, which is expected to last two years, will also see the reception area revamped along the lines of a hotel lobby. Architect Mark Bruce of 3DReid, who worked on both the Cameron House and Turnberry hotels, will be in charge of the project.

"It is not a concept that anybody is really trying to bring in as yet, especially not in Scotland," said Skypark marketing manager Camille Lorigo said.

Moorfield and Resonance bought the park in November for 54m. Resonance Capital director Angela Higgins said the joint venture was looking at other Scottish assets between 20m and 55m, and hoped to have a deal completed by this summer.