CLYDE Gateway has completed the sale of an industrial investment at its Clyde Gateway East business park. The 28,000 square foot unit 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 HQ.
Development carried out at the business park over the last two years by co-proprietors Clyde Gateway, Aberdeen Standard Investments and Harris Finance has produced five new industrial warehouse units, all of which are now leased and bring the total occupied floorspace in the park to 246,000 square feet. The last three development plots are currently under offer.
The business park is already home to the likes of BT, Cusack Tools, Dentec Scotland, Glacier Energy Services, Greencore, Eden Mill, Smith Brothers 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.”
