ESG firm Utopi expands in EastWorks relocation
Utopi, an environmental social and governance technology specialist backed by the Scottish National Investment Bank, is the first tenant to move into a newly-completed business centre.
The company is relocating from Glasgow into a 6,882 sq ft unit at EastWorks, a former Victorian era gas purifier shed, which was regenerated by Clyde Gateway as part of its strategy to bring more investment into the area.
Utopi works with the multi-tenant real estate sector and its customers include Moda, Harrison Street Real Estate and Cortland.
It currently has 43 employees which it intends to increase to 60 at EastWorks by the end of the year, enabling the company to grow and move into new markets in the United States. This follows a multi-million pound investment from the Scottish National Investment Bank in the early part of this year.
EastWorks is in Scotland’s first Green Regeneration Innovation District and is the first commercial building to be connected to Clyde Gateway’s District Heating Network which was switched on in June.
The £9m retro-fit of the gas purifier shed, dating back to 1843, has created 32,000 sq ft of offices and studios and was part funded by the Scottish Government’s Regeneration Capital Grant Fund and Glasgow City Council. It has the capacity for 300 jobs.
Martin McKay, chief executive of Clyde Gateway, said: “EastWorks represents our success perfectly, and it is a huge vote of confidence in our communities to have a high growth, industry leading, international tech business like Utopi recognising that Dalmarnock is the best place in which to grow.”
Jonathan Burridge, CEO of Utopi, added: “We’re excited about this next chapter for Utopi as we look to grow our team and reach global audiences.
“Moving into EastWorks is symbolic of our growth plans and also sits perfectly with our company ethos which has such a strong focus on the environment.”
The letting agents were Avison Young and Ryden.