clyde gateway

 

21 
Mar

£4 MILLION EXPANSION FOR RUTHERGLEN OFFICE PARK

Clyde Gateway is set to invest £4m on the construction of two office pavilions at Rutherglen Links Business Park, and in so doing will effectively ensure the full completion some five years after construction first got underway.

The two pavilions will have a combined gross area of 1,400 square metres (just over 15,000 sq. ft.) and they will be built opposite One Rutherglen Links, the first of the buildings within the business park and into which SPIE Ltd took the top two floors in 2015, bringing 140 staff into what is their Scottish HQ. The pavilions will be targeted at small to medium enterprises of the type which have been flocking to Red Tree Rutherglen on Stonelaw Road and Red Tree Magenta at Shawfield, both of which are operating at near full-occupancy.

Rutherglen Links has enjoyed significant success, with Harris Finance, a regionally based private developer, investing more than £5m into the creation of five industrial plots, successfully attracting a number of occupiers including Screwfix, Eurocell, Ford Retail and TransCanada Turbines, which between them have brought 145 jobs to the area. There is still room for one more industrial shed within the business park and Harris Finance are confident construction work will get underway later in the year.

Ian Manson, Chief Executive of Clyde Gateway said: “This is more positive news for the town centre. These new pavilions will provide space for just under 120 office workers, and all told Rutherglen Links, when full, will be home to over 500 people, all of whom will be providing a spending boost to Main Street.

“This style of office pavilion is a new concept for Clyde Gateway, and it is a project we are really excited about.

“They will each have a different internal layout which in itself will maximise the flexibility on offer with the capability of accommodating either a single user or up to four tenants. As we have already seen with the two Red Tree office pavilions in Rutherglen, there is a great demand for high-quality, stylish and very affordable office accommodation and we are all quietly confident of achieving early or perhaps some advance lettings.”

50% of the construction costs of the pavilions will come from the award from the Scottish Government’s Regeneration Capital Grant Fund, with the remainder being provided by Clyde Gateway, through reserves, although the possibility of borrowings, using existing investment properties as security, is also under consideration.

Planning permission for the construction of the pavilions has been granted by South Lanarkshire Council and it is hoped that we can be on site by May 2019 with an anticipated nine months construction period.

Published Date: 21st March 2019
Category: Uncategorized