Rutherglen office is sold in multi-million pound deal
The news is a boost to the office market in the West of Scotland
A Rutherglen office block home to two companies has been sold in a multi-million pound deal.
The regeneration project Clyde Gateway has sold One Rutherglen Links, as well as the nearby Albus building in Bridgeton, to a joint venture between the European real estate and investment manager M7 Real Estate and overseas investors.
Albus and One Rutherglen Links are currently home to a wide range of thriving companies that have chosen to locate and grow their operations in Clyde Gateway.
Tenants at One Rutherglen Links are SPIE, an international facilities management company and Clear Business, a leading UK services provider in the telecoms, water and energy sectors.
Albus tenants include SchoolCloud, specialising in educational online support systems, which has doubled in size since relocating to Clyde Gateway and now works with 6,000 schools worldwide.
Similarly, creative agency giants MadeBrave, the first tenants to arrive, subsequently doubled their staff numbers and office space. The Albus is also home to IT support specialists, Cloud Cover IT and Peebles Media Group, an independent media organisation whose publications include Scottish Grocer, Project Plant, Project Scotland, Packaging Scotland and Envirotec.
Clyde Gateway’s 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 added: “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."
