In a further boost to the West of Scotland office market, Clyde Gateway has completed the multi-million pound sale of two key commercial office buildings to a joint venture between M7 Real Estate, one of Europe’s leading Investment and Asset Managers and overseas investors.
The properties are the award-winning Albus building in Bridgeton and One Rutherglen Links near Rutherglen town centre. Clyde Gateway was represented by Ryden LLP and solicitors Dentons UK and Middle East LLP, while the purchaser was represented by Saligo Real Estate and BTO Solicitors LLP.
Albus and One Rutherglen Links are currently home to a wide range of thriving companies that have chosen to locate and grow their operations in Clyde Gateway.
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. Similarly, creative agency giants MadeBrave, the first tenants to arrive, subsequently doubled their staff numbers and office space. The Albus is also home to IT support specialists, Cloud Cover IT and Peebles Media Group, an independent media organisation whose publications include Scottish Grocer, Project Plant, Project Scotland, Packaging Scotland and Envirotec.
Tenants at One Rutherglen Links are SPIE, an international facilities management company and Verastar, a leading 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 said: “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.”