Contact the Capital Investment team for more details about this opportunity

Opportunity Magenta

Scotland’s largest consented commercial development site benefits from long term government support with over 20 million GBP public funding already invested to create an immediate opportunity for investment.

240 million GBP opportunity for investor, equity, co-development, developer funder, and construction partners with additional investment available in the area.

Contact the Capital Investment team for more details about this opportunity.

Aerial view of bridge and Magenta development area
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Location

Clyde Gateway, Glasgow

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Project promoter

Clyde Gateway Developments Limited

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Scale

£280 million GDV

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Sector

Commercial, Energy component (real estate)

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Investment type

240 million GBP investment – investor, equity, co-development, development funder, and construction partners

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Planning status

Planning permission in principle (PPP)

Map showing the location of Glasgow and the main road links to Edinburgh, Perth, Dundee and the Highlands

Project background

Glasgow is facing an acute shortage of grade A office accommodation, and vacancy rates are well below their 10 year average. Magenta at Clyde Gateway will be one of the UK’s most extensive office parks, extending to 11 hecatares (27 acres) on the banks of the River Clyde.

The park sits within the urban fabric of the City of Glasgow alongside the newly re-located 22 million GBP custom built Police Scotland Regional HQ helping to position this new district as an emerging part of the Glasgow business community.

About the project

The area is well served by a new rail station, upgraded national motorway network and is 15 minutes from Glasgow International Airport. It also offers a workforce of over 2 million within a one hour journey.

2014 Commonwealth Games Legacy investment in the local area has resulted in award winning public realm and new world class sports facilities at the Emirates Arena and Sir Chris Hoy Velodrome. Over 1.5 GBP billion has been invested in the immediate area to date resulting in 63,000 square metres (678,000 square feet) of award winning business space and over 2,500 new homes.

Magenta benefits from planning consent for up to 111,500 square metres (1.2 million square feet) of grade A office accommodation. The first phase of development has commenced on site with a 3,250 square metre (35,000 square feet) business incubator under construction and due for completion Spring 2018.

The site will benefit from a district heating and cooling network served from local energy centre provided by third party at no risk to investors. Incentives are available to occupiers, including Regional Selective Assistance plus a range of other local authority / public sector initiatives.

Promoters and partnerships

Magenta is wholly owned by Clyde Gateway, a partnership between Glasgow City Council, South Lanarkshire Council, and Scottish Enterprise.

Highbridge Properties Plc is Development Partner to Clyde Gateway.

CBRE, Savills and Ryden have been appointed as advisors to the project.

Magenta has the support of Scottish Government and is part of the National Planning Framework (NPF3).

To invest in the UK, get in touch with our team.

Find out more about Magenta, Glasgow..