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Two new tenants for estate

Beeks relocates to Hillington Park’s Lumina building

Grant Edmondson with Paul Donohoe (COO) of Beeks

One of Scotland’s fast-growing fintech firms Beeks Financial Cloud is relocating to Hillington Park following a doubling of its payroll.

The company, currently based at the Phoenix Business Park, Linwood, is taking the entire 8,961 sq ft ground floor of Frasers Property’s Lumina Building which shares a campus with the Park’s Innovation Centre, home to numerous entrepreneurial technology businesses since 2000.

Frasers has also signed a lease with Goldaming-based telecoms company Arrow Business Communications which is taking 4,640 sq ft, half of Lumina’s first floor. Both firms are expected to move in at the beginning of September.

Beeks, which provides cloud computing services for financial markets, has grown organically and through acquisition since it floated on the Alternative Investment Market in November 2017. Gordon McArthur, CEO, said the new office space at Hillington Park will facilitate the continuing growth of the company.

“In the last two years, we have experienced exponential growth, almost doubling our UK headcount, making it necessary to expand to a much larger space,” he said.

Chris Russell, CEO of Arrow, said: “With the acquisitions of Siebert Telecom in 2017 and Abica and PCR earlier this year, the next logical step was to unite and locate our three Glasgow-based businesses together. Our Scottish teams are excited to be moving into the new office and looking forward to creating an impressive Arrow powerhouse of telecoms and IT expertise in Glasgow.”

Lumina provides 27,522 sq ft of purpose-built offices.  As a result of these two deals it has secured a swift occupancy of 50% following the departure in 2018 of the previous tenant which occupied the entire building.

Hillington Park was purchased by Frasers Property, which owns a £1 billion portfolio of business parks in the United Kingdom, 18 months ago. It is currently home to more than 500 businesses employing around 8,000 people

In the last year, almost 100,000 sq ft of commercial and industrial space has been secured, including almost 20,000 sq ft of office and warehouse to utilities services contractor IQA Group and a 17,728-square-feet modern industrial unit to specialist rail engineering business OSL Group.

Grant Edmondson, commercial director at Hillington Park, said: “The arrival of Beeks and Arrow is a major boost to the technology cluster at Hillington Park.  They both have strong and growing reputations in the technology and communications sector.”

Elgin developments

Saltire Business Parks, a Scotland-based commercial developer, has completed a number of deals at Elgin Business Park.

Two sites have been sold to Drum Property Group, totalling three acres. Drum will deliver a Travelodge after work started on the 61-bedroom hotel earlier this month, in addition to the construction of an outlet for Euro Garages.

Speyside Scaffolding has also completed a deal to acquire a 1.5-acre site from Saltire for a new industrial compound.

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