Spectrum Properties acquires fully occupied Glasgow industrial estate

An agreement to acquire the thirty-year-old Lloyd Street Industrial Estate (LSIE) at Farme Cross in Glasgow will result in over a quarter of a million pounds of improvement works to improve road quality and security.

Spectrum Properties acquires fully occupied Glasgow industrial estate

Bill Roddie

Family-owned Spectrum Properties has acquired the heritable interest of the industrial estate, which is 100% occupied by 22 tenants, from Hericksa Limited, for around £3m.

Spectrum Properties managing director Bill Roddie said: “LSIE is a good fit for our portfolio, and it is our intention to invest around £250,000 to upgrade both the existing road network within the estate and to reassure our tenants with the installation of security gates.

“By making LSIE a more safe and secure place in which to do business we hope to retain all our existing tenants and to attract yet more in the future.”

LSIE hosts a range of businesses, including a window manufacturer, a scaffolder and a company which refurbishes camper vans.

Spectrum Properties, which in recent years has moved increasingly into residential development, focuses primarily on commercial property. It owns some 700 commercial properties across Glasgow, comprising 70% of its group holdings.

It has also converted sites such as Hillhead High School in Cecil Street in Glasgow, the former Hydepark Public School in Springburn, and Shettleston Public Baths.

Spectrum also converted art collector and city benefactor Sir William Burrell’s Great Western Road mansion and is currently engaged in the retention and development of the former Golfhill School near Glasgow Royal Infirmary.

The Shakespeare Building in North Kelvinside is the latest in a long line of architecturally significant properties which have been kept in the city’s heritage portfolio by Spectrum, using advanced preservation and restoration techniques such as façade retention.

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