CLYDE GATEWAY, the regeneration project in the east end of Glasgow, has offloaded two commercial office buildings in a multi-million-pound deal.
The award-winning Albus building in Bridgeton and One Rutherglen Links near Rutherglen town centre have been sold to a joint venture between M7 Real Estate, a European investment and asset manager, and overseas investors.
Clyde Gateway declared the sale was a vote of confidence in the office market in the area. It comes as people begin to return to workplaces this week following the easing of restrictions.
Chief operating officer Barry Macintyre said: “The sale of Albus and One Rutherglen Links is the latest success in our programme of developing vacant land and building modern energy efficient business premises capable of attracting and creating jobs for Scotland. This sale again demonstrates investor confidence in the future of offices and paves the way for further developments in the area.”
Euan Burns, director of M7 Real Estate, said: “Clyde Gateway is an exciting area that continues to see growth and investment, is well located with further infrastructure and development to come.
“We are pleased to have concluded the deal and we look forward to working with all of our tenants as they continue to make a significant contribution to the Scottish economy and boost employment prospects for the city. We believe the assets are well positioned to meet occupier demands in a post-Covid environment.”
Tenants at the Albus building include creative agency MadeBrave, publisher Peebles Media Group, and SchoolCloud, which specialises in educational online support systems.
SPIE, an international facilities management company, and Clear Business, a services provider in the telecoms, water and energy sectors are among tenants at One Rutherglen Links.