A huge new business district could create 12,000 jobs near the city, says Bob Serafini
THEY’RE already the operators of the largest office park in the UK, the hugely successful Cobalt, near Newcastle, which has built up a workforce which now tops 14,000.
Now Highbridge Properties has designs on Glasgow, announcing plans for a new satellite business district at Shawfield which has the potential to create up to 12,000 Scottish jobs.
Branded Magenta at Clyde Gateway, their Glasgow project will consist of 1.2 million sq ft of office space, set on 27 acres next to the River Clyde and M74 motorway network, actually in South Lanarkshire, but just ten minutes from the city centre.
We are talking here of the largest office development with planning consent in Scotland and in effect a new national business district for the Central Belt.
The last project of this scale was Maxim Office Park at Eurocental in Lanarkshire, where more than 500,000 sq ft of space stand empty, built in the wrong place and still seeking occupiers years after their completion.
But Magenta is a different beast, being driven forward by an experienced developer who has already developed 13 million sq ft of commercial space, and with a development partner Clyde Gateway who bring a successful track record in regenerating the east end of the city.
The urban regeneration company, who have already attracted Police Scotland and a string of go-ahead companies to the Bridgeton and Dalmarnock area, are in for the long haul and have invested £20m in decontamination, infrastructure and public realm works on the site to ensure it is development ready.
Office space here is likely to offer savings of up to 40 per cent on rent, rates and service charges at the dwindling number of new build offices in city centre locations. High density operators such as shared services and customer contact centres can shave even more off costs by designing offices to their specific requirements.
Highbridge director Adrian Hill 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. Magenta is a very compelling option for businesses, boasting superb connectivity, infrastructure and value for money."
He’s already talking to occupiers and has clearly already been out with his stop watch: "The location is first class – a stunning riverside development that’s just ten minutes by train from the city centre,15 from Glasgow Airport, two from the M74, and with parking on site.
"It can accommodate large modern floor plates and offer flexible bespoke solutions tailored to a company’s exact needs."
Ian Manson, Clyde Gateway chief executive, said: "Magenta will give the local economy and employment market a phenomenal boost. It will also attract new inward investment to Scotland and stimulate economic growth.
"Neighbouring the site, Police Scotland has already seen massive benefits from locating 1000 administrative, finance and IT staff here, and more and more companies are seeing first hand why this area is such an attractive proposition."
Cushman & Wakefield and Savills have been appointed joint marketing agents and briefed to target not just the local market but national and international occupiers.
The hope is to have the first building on site by next year.
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