Wednesday 3 September 2008

New Office Suites on Hillington Park Glasgow

A distinctive development of seven office suites is currently under construction on a speculative basis at Hillington Park, demonstrating a rare confidence in the market at this particular time.

The Arc, a £4 million development by MEPC, the majority landowners at Scotland’s largest business location to the west of Glasgow, is a curved terrace of single-storey office accommodation, ranging from 226 square metres (2,433 square feet) to 352 sq m (3,789 sq ft).

The scheme was designed to take advantage of a unique semi-circular site on the east side of Hillington Park, and is expected to appeal to small to medium-sized businesses seeking high-quality, good-value, out-of-town accommodation. Indicative rental costs are likely to be in the range of £16 per sq ft per annum.

Grant Edmondson, managing director of MEPC Hillington Park, said: "Even though there are signs that the office market is cooling, MEPC are ploughing ahead with this speculative office scheme since we have very little stock available. We are committed to providing office space of a price and quality at the Park which the occupier market demands."

The development is located in what is becoming an established office area of the estate: adjacent to Centura Court which is home to Ceridian, British Red Cross and Fujitsu, and close to the Hillington Park Innovation Centre and the Lumina building, which was let to Balfour Kilpatrick early this year.

The Arc will be built to a high sustainable specification and has achieved a ‘Very Good’ BREEAM rating. Unusually, the accommodation is at ground floor only, offering a single, space-efficient floorplate. Each office will enable occupiers’ full control over their premises, with dedicated main door entry and reception, together with the ability to erect their own external corporate signage.

Mr Edmondson also revealed that MEPC has successfully let an office suite on the ground floor of The Hub, which also houses MEPC’s own estate office. OLM Group Ltd have graduated from the Hillington Park Innovation Centre, taking 278 sq m (2,992 sq ft) on a five-year lease, at a rent of £15.50 per sq ft. The remaining space on the first floor of the prominent building in Earl Haig Road, opposite the Retail Centre, is also under offer.

At the same time, Online Media Branding Ltd (trading as 360 Innovate), are relocating from the east end of Glasgow into nearby Cameron Court, Cameron Street, where they will occupy an office suite of 361sq m (3,893sq ft) at a rent of £10.00 per sq ft on a 10-year lease.

"We are always pleased when a company that has been incubated at Scotland’s leading-edge Innovation Centre decides to remain at Hillington," said Mr Edmondson. "It demonstrates our long-held experience that by providing the right range of accommodation and a flexible customer-focused approach, MEPC can retain growing businesses at Hillington Park over the long term."

The letting agents on Hillington Park offices are Ryden and Cushman & Wakefield.

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