The first building at Glasgow’s new urban business location, Magenta @ Clyde Gateway, has been “topped out” – the term used to describe the installation of the final piece of a building’s structure.
The £9m Red Tree Magenta building is currently under construction by contractors Robertson, and is due for completion in summer 2018. Investment funding is being provided jointly by Clyde Gateway, the Scottish Government and South Lanarkshire Council.
On the site of the former Shawfield industrial estate, Magenta @ Clyde Gateway is set to become one of the UK’s largest office locations, set on 27 acres next to the River Clyde and M74 motorway network, under two miles from Glasgow’s city centre. It is estimated that the development will bring at least 12,000 new jobs to the area.
The four-storey, 3,780 sq m Red Tree building will provide Grade A business suites ranging in size from 10 to 168 sq m, aimed at encouraging the growth of SMEs and creating local employment opportunities for local people, including those moving into the area’s numerous new residential developments. When fully occupied, the building has the capacity to create 250 new jobs.
Highbridge Properties Plc – Clyde Gateway’s development partner for Magenta – is a specialist business park developer which has successfully developed over 13 million square feet of office and industrial space, including Cobalt, the largest office park in the UK. Situated near Newcastle, Cobalt employs over 14,000 people and is home to numerous blue chip companies including Hewlett Packard, Proctor & Gamble, Accenture, EE and Santander. Highbridge is now planning the next phase of development at the Magenta site.
Guy Marsden, director at Highbridge Properties PLC said: “Topping out is a major construction milestone in what is a landmark project – the very first building at Magenta, which will eventually become one of the UK’s largest office locations.
“Magenta is a very compelling option for businesses who want great value for money, superb infrastructure, and a location that’s under two miles from the city centre, 15 minutes from Glasgow Airport, and two minutes from the M74. It’s also within walking and cycling distance of a growing local population, who are taking advantage of the various new residential developments that are springing up in the area. Magenta’s close proximity to the Cuningar Loop woodland park is also good news for the wellbeing of people who will be working here.
“Magenta provides a great addition to the Scottish economy – with Grade A office space that offers savings of up to 37 percent on similar new-build offices in city centre locations.”
Ian Manson, Chief Executive of Clyde Gateway said: “This £9 million investment marks the beginning of what will be a remarkable and eye-catching regeneration of Shawfield. These offices are the third to be developed by Clyde Gateway under the Red Tree brand, with two already in place at Bridgeton and Rutherglen, but this is the first to involve a complete new-build.
“We’ve already attracted over 5,000 jobs to the Clyde Gateway area, and many of our tenant companies are from the creative, media and digital industries such as Think Publishing, Made Brave, Peebles Media and Cloud Cover IT. Our Red Tree developments have been really popular, so it’s great to see construction work coming on so well and we are on schedule for opening this flagship building in summer 2018.”