NAI Gooch Webster - Industrial Development - Hillington, Connection West

Date: 22 Nov 2000

A major vote of confidence in the Scottish industrial market has been given in the shape of a high calibre 2,322.5 sq m (25,000 sq ft) advanced factory building -to be built speculatively at Connection West, Hillington as the first phase of a £5million development.

A Scottish joint venture company – Alexander Whiteford Ltd - has been established to develop the building, and with a view to develop a further 60,000 sq ft. in the future. The site was previously owned by the Terrace Hill Group, of which Derek Prowse was Managing Director. He left to concentrate on his company, Alexander Land, and has set up the new development venture, “Alexander Whiteford” with Jonathan Cockburn, Managing Director of Glasgow developers Whiteford Ltd.

Joint letting agents for the scheme, King Sturge and NAI Gooch Webster, anticipate no problems in finding occupiers for the scheme. “Hillington Estate has been long been regarded as Glasgow’s prime location for
industrial development, but there are now very few sites available here,” says Director of NAI Gooch Webster, Neil Cockburn.

“There is demand for this size of unit and at the sort of quality that the developers are promising – both from indigenous businesses looking to expand or upgrade their premises, and also from companies looking for a foothold in the Glasgow market and with easy access to the M8.

“In particular, it could act as a magnet for overseas businesses looking to set up a manufacturing operation or distribution facilities.”

Rents of £5.75/psf are being quoted and work is due to start on site in January 2001, with completion due in July 2001.

Morrison Developments is backing the venture as part of their newly created Morrison Developments (Property Finance) Ltd, which is bringing up to £50m of funding into the property market.

Jonathan Cockburn of Alexander Whiteford says that: “The team of people assembled for the project augers well. It’s always seen as a ‘brave move’
to build speculatively, but many businesses will not make a decision to move until they can see what they are going to get. Many more companies find they have to make a decision quickly: design and build isn’t always an option.

“There is a lot of pent up demand in the market at present, and we are confident of tapping into that demand – and so play a key role in helping a local business expand or pulling an inward investor into Glasgow.”

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