Proceeds re-invested

Celeros selling third of former Weir Pumps site

Buildings to the left of the offices will be sold

Vacant buildings and land on the former Weir pumps site in Glasgow – now owned by US firm Celeros FT – are to be sold for housing, with the proceeds re-invested in the business.

Celeros is offloading a third of the 18 acre site where the company manufactures and maintains pumps, valves and equipment for the renewables, defence, nuclear, oil and gas and water treatment sectors.

It acquired the Cathcart site from SPX FLOW in 2020, bringing ClydeUnion Pumps under its umbrella of brands.

Demolition has begun on the six acres of land along Inverlair Avenue which will be offered to the housing market.

The sale and leaseback of operational land and buildings has just completed. Celeros FT has signed up to a minimum 25-year commitment on the 369,000 sq ft of manufacturing buildings and 111,000 sq ft of office space it currently occupies, with options to extend the term.

Celeros offices
Historic offices of Weir will be retained

Chris McVicker, chief financial officer at Celeros FT, said: “We are proud of the manufacturing capability and heritage of ClydeUnion Pumps and see a period of investment as the catalyst for growth.

“The initial focus will be to invest in the existing building infrastructure and site energy performance, with further plans to build upon our core competencies of engineering, manufacturing and testing pump solutions for the worlds most demanding operating conditions.”

Investment to build upon Celeros FT’s existing workforce is also underway with the introduction of a new apprenticeship programme offering 48 places over six years. The apprenticeship scheme is run in conjunction with East Kilbride Training Group.

Mr McVicker added: “We have now established a stable, sustainable and future-proof plan for Cathcart that unlocks new opportunities for the business and the local economy. We are disposing of the excess building and land in a respectful way, appreciating our legacy and honouring our community.”

Celeros FT has appointed Dawn Developments and Cushman & Wakefield to provide development advice on the best way to deliver investment from the vacant property. Work to demolish disused buildings is already underway and consultation with the community will form part of the residential development.

Paul O’Donnell, development director at Dawn, said: “The enthusiasm of Celeros Flow Technology to secure the long-term future of ClydeUnion Pumps in Cathcart is refreshing.

“Their vision for the site will enhance the local area in a positive manner, providing much needed family housing in Glasgow and enabling Celeros FT to focus on continuing the legacy and heritage of over 135 years of design and manufacturing of pump equipment in Cathcart.

“We will now embark on a period of community consultation and as plans develop and details evolve, we will be actively sharing them.”

David Davidson, chair of Cushman & Wakefield in Scotland, said the sale and leaseback transaction involved an established long-term income investor.

“It was a highly competitive bidding process with wide international investor interest. All parties that viewed the premises responded very positively to the ClydeUnion Pumps business and reinvestment plans and shared our collective view that the business would go from strength to strength for decades to come at this historical location in Glasgow.”

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