Developer SCOT Sheridan is set to commence work later this month on the first phase of the £14 million development of Clyde Gateway East Business Park in the East End of Glasgow.

SCOT Sheridan will create 57,500 sq ft of modern, flexible business accommodation in three separate buildings at the park which has a prime location off the newly completed M74 just four miles from Glasgow city centre. The development is accessed close to Junction 2a of the Motorway.

The space will comprise units of 22,200 sq ft, 19,200 sq ft and 16,100 sq ft suitable for production or distribution and each featuring office accommodation, dedicated parking and secure yardage with a rental rate of £6.50 per sq ft. The units will also include the latest Smart Grid technology meaning that prospective tenants can manage their energy more effectively and potentially sell any self-generated power back to the grid.

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It is hoped that the business park, which is owned by UK business estate operator MEPC and Clyde Gateway, will eventually support around 700 jobs. Funding for the work - the first major new-build industrial development scheme to be undertaken in Glasgow for over three years – is being provided by MEPC. Construction will be carried out by CCG from Cambuslang and is expected to be completed in late Summer 2012.

David MacLachlan, Director, SCOT Sheridan said: "We’ve already had a tremendous amount of interest in these speculatively built units due, we believe, to a combination of a superb business location with modern, flexible buildings that put the needs of today’s businesses firmly at the heart of their design. The impressive levels of interest to date confirm our strong belief in the potential of Clyde Gateway East which looks set to attract much-needed jobs to the area in the near future."

Steve Pritchard, Executive Director of Development at Clyde Gateway said: "This investment is another great demonstration of the willingness of the private sector to commit to Clyde Gateway. This particular location takes advantage of unrivalled road connections through its proximity to the recent completion of the M74 and is a huge vote of confidence by SCOT Sheridan and MEPC in our on-going and future activities to fully transform the fortunes of our communities."

(GK)