Hillington Park, one of Scotland’s largest business parks, secured 33 new lease agreements in 2017 worth over £1million.
The new leases on over 245,000sqft of industrial and office space have seen a variety of businesses principally in the automotive, building products & services, logistics and manufacturing sectors expanding on, and relocating to Hillington Park.
The first speculative industrial development since 2008 was also completed in July 2017 offering over 85,000 sq ft of high quality accommodation in four self-contained units and with little new build industrial supply in the Glasgow market deals are expected to be completed during 2018.
Grant Edmondson, Commercial Director at Hillington Park said: “The industrial sector has been particularly active in the second half of last year as demonstrated by the number and value of new lease agreements we’ve secured. It is great to see businesses across a number of key sectors expanding and choosing Hillington Park as their preferred business location, which really does deliver clear benefits not just in terms of location and transport connections but as a business community with B2B and B2C opportunities.”
Hillington Park was purchased by Frasers Centrepoint from Oaktree Capital Management in September 2017 in Scotland’s largest investment transaction of the past year. The Estate is located between Glasgow City Centre and Glasgow International Airport and covers 419 acres (170 hectares). It is home to more than five hundred businesses employing around 8000 people.
Grant Edmondson added: “Frasers Centrepoint is a hugely successful international company with vast experience in major worldwide real estate markets. The strategy is for long term investment and further development of Hillington Park which will improve our offer to business occupiers and benefit the local economy as a whole.”