Leading property consultancy CBRE has announced it has secured two new tenants for Buchanan Gate Business Park on behalf of Scarborough Group International resulting in full occupation of the Park.
Caledonia Water Alliance, a joint venture between Aecom Ltd and Morrison Utility Services Ltd, has taken the ground floor suite of Building 1, extending to 5,096 sq ft on a new twelve year FRI lease at a rental of £10 per sq ft.
CBRE also secured a new tenant for the second floor suite of Building 2, extending to 6,707 sq ft. The space was previously occupied by Sodexo and a deal was agreed with the company to surrender its lease. Amey Utility Services Ltd has now taken the suite on a new twelve year FRI lease at a rental of £10 per sq ft.
These deals follow on from the letting of a 2,694 sq ft suite in Building 2 in July to VRS Vericlaim UK Ltd, which signed a five year lease at a headline rental of £10 per sq ft.
Both Caledonia Water Alliance and Amey Utility Services Ltd (in partnership with Black & Veatch) were announced as preferred bidders earlier this year to support the delivery of Scottish Water’s water infrastructure element of its capital investment programme, bringing around £700million of investment over the six years.
William McAlister from Scarborough Group, commented: “These latest lettings have resulted in all the remaining office accommodation now being occupied at the Park. This is great news and is testament to the quality of the facilities available and the very accessible location.”
Buchanan Gate Business Park is situated adjacent to Junction 3 on the M80, a ten minute drive from Glasgow city centre. Due to its popularity, the Scarborough Group intend to push ahead with proposals to construct a new headquarters building within the sought after business park.
Set to be built and designed to the highest specifications, the building will span 40,000 sq ft over four levels. Designed for occupation as a headquarters or by multiple occupiers, the office building will boast an impressive reception area, excellent car parking provision, shower and cycle storage facilities and floor to ceiling windows. With 10,000 sq ft open plan floor plates, sub-divisible from 3,000 sq ft, the building will offer highly flexible business space. On completion, it is set to achieve a minimum BREEAM rating of ‘Very Good’ with an Energy Performance Rating of B.
David Rolwegan, associate director at CBRE, said: “The Buchanan Gate Business Park is a prime development with some impressive existing occupiers including Barratt Homes, BAM, Premier Inn and Scottish Water as well as the latest tenants to be announced, Caledonia Water Alliance and Amey Utility Services Ltd.
“The HQ building opportunity offers a highly prominent location within the Park which benefits from the fantastic transport links afforded by the M80, nearby Stepps railway station and bus connections.
“I’m confident this opportunity will be of great interest to many businesses looking for a centralised, well connected hub in Scotland.”
Caledonia Water Alliance and Amey Utility Services Ltd were represented by Knight Frank whilst CBRE represented Scarborough Group International. Sodexo Ltd was represented by Phil Reid Associates and Matthews & Goodman.
CBRE and Montagu Evans are the joint letting agents for the HQ building at Buchanan Gate Business Park.