Fife-based Muir Group has purchased the remaining development land at Glasgow Business Park in the largest commercial land deal in West Central Scotland over the past six months.
The 26 acres of development land front the M8 at Junction 9 and forms part of the 72 acre business park well known to commuters due to Andy Scott’s iconic Heavy Horse sculpture.
The land was acquired in an off-market deal from Glasgow Business Park.
Muir Group will construct speculative space later this year and will also pursue bespoke opportunities.
John Muir, Muir Group chairman, said “Glasgow Business Park offers an excellent development opportunity to bring new build, high quality industrial units to the market in a range of sizes.
“Muir Group has already successfully developed and constructed 13 buildings totalling over 525,000 sq ft of office and industrial space in Aberdeen. Glasgow Business Park provides us with a prime and highly visible development site in Central Scotland to continue this development and construction programme.
“The group is in a position to fund and develop units speculatively and we are aiming to deliver the first units in early 2019.”
Alan Gilkison of Ryden, which advised Muir Group on the purchase, said: “Our latest property market analysis shows the lack of availability of industrial units in prime areas is reaching critical levels resulting in rental growth for the best assets.”
Ryden and GVA have been retained as joint letting agents.