GLASGOW-based Spectrum Properties has acquired the 30-year-old Lloyd Street Industrial Estate at Farme Cross Rutherglen in a deal worth around £3 million.
The move will pave the way for over £250,000 of improvement works to boost road quality and security.
The industrial estate, purchased from Hericksa Limited, is currently fully occupied by 22 tenants including a window manufacturer, a scaffolder, and a company which refurbishes camper vans.
Bill Roddie, MD of Spectrum Properties, commented, “LSIE is a good fit for our portfolio, and it is our intention to invest around £250,000 to upgrade both the existing road network within the estate and to reassure our tenants with the installation of security gates. By making LSIE a more safe and secure place in which to do business we hope to retain all our existing tenants and to attract yet more in the future.”
Spectrum Properties owns some 700 commercial properties across Glasgow and has also moved increasingly into residential development in recent years. The business has converted sites including Hillhead High School, the former Hydepark Public School in Springburn, and Shettleston Public Baths.
Spectrum also converted art collector and city benefactor Sir William Burrell’s Great Western Road mansion and is currently engaged in the retention and development of the former Golfhill School near Glasgow Royal Infirmary.