Site to become magnet for investors
Magenta to help fill Glasgow’s Grade A gap
Commercial property developer Highbridge Properties has today launched what will be a satellite business district for Glasgow and one of the UK’s largest office parks.
The 1.2 million sq ft development, Magenta at Clyde Gateway, is set on 27 acres next to the River Clyde and M74. Magenta will provide much-needed Grade A office space for Glasgow at a lower cost than city centre accommodation.
There are claim that it will create thousands of jobs. However, business parks create space; companies create jobs and there is no word yet on any tenants moving on to the site.
Even so it is expected to become a magnet for companies looking for large floorplates, probably providing back office functions and call centres. It is likely that jobs will relocate from elsewhere. Police Scotland has consolidated more than 1,000 administrative, finance, and IT staff nearby.
There are also plans to build homes, shops and leisure facilities to create a new community.
Adrian Hill, director of Highbridge Properties, said: “When I first saw this site it reminded me of London Docklands in the early years – so much potential and so close to the city centre.”
Ian Manson, chief executive of Clyde Gateway, said: “This is an extremely exciting time for the Clyde Gateway area and I am delighted to have appointed Highbridge as our commercial development partner – a company with a fantastic track record in delivering high quality business parks.”
Cushman & Wakefield and Savills have been appointed as joint marketing agents for the development.
Highbridge has developed more than 13m sq ft of office and industrial space around the UK, including Cobalt, the largest office park in the UK, situated near Newcastle.
