Spectrum Properties, headquartered in Glasgow, will expand an existing business park on a brownfield site in South East Glasgow with a number of industrial and commercial units of varying sizes on a 1.8 hectare site on Broad Street.
Since 1861, the site has seen various incarnations, including use as a cotton mill, egg distribution factory, printing plant, and fire station.
Now the family business has received full planning permission to breathe new life into the neighborhood by building and operating up to five new business units for general industry, warehousing, distribution and general operations. The combined acquisition and development costs are approximately £3 million.
Spectrum Properties, which focuses primarily on commercial property and owns around 700 such properties across Glasgow, has increasingly shifted into residential development in recent years.
Managing Director Bill Roddie said: “The new Broad Street development, bounded by Fordneuk Street and the Camlachie Burn, is directly opposite our existing Broad Street business park.
“As such, we know the area exceptionally well, having developed two hectares of the site as successful, fully leased commercial units over the last few years.
“Likewise, we recognize that there continues to be significant underlying demand from business people for devices of these dimensions and specifications. Developments like these are part of our contribution to the ongoing regeneration of Glasgow’s East End and we are confident that a significant number of jobs will be created when these units are occupied.”