Scottish News
UKCP REIT acquires M8 Industrial Estate near Glasgow for £24.6 million
U K Commercial Property REIT Limited (“UKCP REIT” or the
“Company”) (FTSE 250, LSE: UKCM), which is managed and advised by Aberdeen Standard Investments announces the acquisition of M8 Industrial Estate near Glasgow in Scotland from Grayling Capital for a headline price of £24.6 million, based on a topped up net initial yield of 5.9%. The acquisition is being funded through existing cash resources.
M8 Industrial Estate (“M8”), one of Scotland’s premier industrial estates, comprises 20 units totalling 290,104 sq ft and offers the potential for two further developments on site. M8 is located in Central Scotland, immediately to the east of Glasgow, at the junction of the A8 and A725, providing immediate access to the M8 linking Edinburgh and Glasgow.
Shepherd Chartered Surveyors is offering a modern detached industrial unit in Ayr for sale.
Located on Whitfield Drive, an established commercial location within the popular Heathfield district of Ayr which is accessible to both the town centre and A77/M77, the 7,530 sq ft single storey unit is well-presented and includes: office; workshop; store rooms; training room; reception; kitchen/staff room and WC facilities. The property is set within a fully secured site.
Offers over £265,000 are invited. Interested parties should contact the sole sales agents.
Major step forward for £90million development on Glasgow waterfront
T
he ongoing revitalisation of Glasgow’s waterfront is poised to take a major step forward with the submission of a detailed planning application for a 500-apartment build-to-rent development on the banks of the Clyde. The project at Central Quay, on the iconic Broomielaw that runs along the River Clyde, is being led by PLATFORM_ – a major investor, developer and property manager across the UK – and will deliver high-quality, state-of-the-art homes to cater for a range of people living and working in the city.
Pending detailed planning consent, which is anticipated at the end of 2018, PLATFORM_ hopes to start construction of the apartments by the second quarter of 2019, with a scheduled completion date of summer 2021. Initial planning in principal was granted for the seven-acre Central Quay site at the beginning of 2018 following a masterplan formulated by Harbert Management Corporation and XLB Property, together with Keppie and LDA Design.
Designed in partnership with award-winning architects Keppie, the development forms part of a wider masterplan at the Clydeside Central Quay area, which also includes 300,000 sq. ft. of office space and a 150 room hotel.
Richard MacDonald Director at Keppie Design said: “The PLATFORM_ Central Quay design has evolved to include an iconic feature tower which will greatly enhance the Clyde Waterfront and Glasgow’s skyline. The high quality public realm and design of the scheme will also significantly improve the area.
24
Southampton City Council invests £1.5m in the first co-working space for creative, digital and knowledge based businesses at the Marlands
F
or the first time in Southampton, creative, digital and knowledge based businesses will have an exciting new space to work in, when ‘Network’ opens on the second floor of the Marlands Shopping Centre in early 2019. The contemporary open plan floorspace will offer members flexible new shared co-working space, giving entrepreneurs the freedom to work in a collaborative environment, which will include a welcoming reception and meeting rooms.
Southampton City Council is making a £1.5m capital investment in the project. In addition, Ellandi, the asset managers of The Marlands and the UK’s leading manager of Community Shopping Centres, are investing to create a new dedicated entrance from Portland Terrace, installing new lifts and replacing windows to the 12,500 sq ft second floor space.
The city’s thriving digital tech business has recently been valued in Tech Nation Report as having increased turnover in this sector by 41% since 2014 and having a value of £2.1bn.
180 St Vincent Street in Glasgow M
arketing technology specialist Socialicity Limited is opening new offices in Glasgow at 180 St Vincent Street, where
they have taken the 5,865 sq ft 6th floor of the building at £23 per sq ft on a six-year lease. This transaction quickly follows the lettings to HRC Recruitment, Turcan Connell and Alexander Sloan who have all relocated to the building in the last 6 months.
Socialicity is a firm specialising in marketing technology services for financial businesses and headquartered in Watford, Hertfordshire. Tim Jacobsen of letting agents Ryden said: “With the improvements made in One80, Northwood the land lords has created a fantastic building that has been well received in the market”.
Ryden & JLL represented Northwood in this deal whilst Socialicity Limited acted for themselves.
Shepherd Chartered Surveyors is offering premises in Ayr to let.
T
he premises are located on Alloway Place which lies immediately west of the town centre and is one of Ayr’s most popular office locations. The property comprises a traditional mid-terrace ‘B’ listed townhouse formed over four floors, including private car parking for six vehicles to the rear.
The 2,320 sq ft accommodation comprises: three offices, stores and WC at ground floor; four offices and stores at first floor; an office and four stores at the attic and a staff room with two stores on the lower ground floor.
Rental offers over £12,500 per annum are invited.
COMMERCIAL PROPERTY MONTHLY 2018
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