The two largest deals of 2009 by MEPC at Hillington Park have just been completed, taking the total rent value of new lettings for the year to date to over £500,000, and reducing the company’s vacancy rate to below 5% by area.Accommodation extending to 1,030 sq metres (11, 335 sq ft) on Earl Haig Road, consisting of refurbished offices and warehouse space, has been agreed with McNicholas Construction on a five-year lease at £45,000 per annum. The company is presently based at the Oakbank industrial estate in Glasgow, and plans to move to Hillington before Christmas. Operations Manager Michael Connon said: "Hillington ticked all the right boxes for us, and MEPC made it easy for us to reach our decision to relocate."
In Kelvin Avenue, an existing tenant at Hillington Park is expanding into a unit of 1,260 sq metres (12,723 sq ft). Over the Road Ltd is the new name for manufacturing joiners Knot & Grain, who have agreed an annual rent of £45,000 over the next five years. They are also retaining their existing property at Napier Road, which will be developed as a showroom and conference facility for architects and other clients.
MEPC’s Asset Manager, Andrew Kerr, said: "These were our two largest available vacant spaces, and we are delighted that the new lettings reflect the attractions of the estate both to re-locating companies and those already at Hillington that need to expand."
Another incoming company has arrived in the past month in Montrose Avenue, where Matrix International Sourcing Ltd has taken on a refurbished warehouse-and-offices unit of 400 sq metres (4,390 sq ft) at a rent of £20,000 a year. The company are clothing distributors, and are re-locating from Linwood.
Grant Edmondson, MEPC’s managing director at Hillington Park, said: "Since the start of the year, we have completed a total of 28 new lettings, representing 120,000 sq ft of space and adding £532,000 to our rent book.
"So, at a time of recession, Hillington Park has continued to perform very well. The overall quality of the estate is widely recognised as a location where companies are able to grow. And we are continuing to secure lettings from competitors because of our proactive on-site management team."
MEPC Hillington Park were represented by GVA Grimley and James Barr.
