Spectrum Properties has acquired a brownfield site in South East Glasgow, with plans for five new business units.
The Glasgow-based property firm acquired the 1.8 acre-site in Broad Street, which has a range of different sized industrial and commercial units.
Since 1861 the site has had various incarnations, including use as a cotton mill, an egg distribution factory, a printworks and a Fire Brigade storage facility.
Spectrum has received full planning permission to construct and operate up to five new business units for general industry, storage, distribution and business operations.
The combined purchase and build-out cost should be around £3m.
Managing director Bill Roddie said: “The new development in Broad Street, which is bounded by Fordneuk Street and the Camlachie Burn, stands directly across from our existing Broad Street Industrial Estate.
“So, we know the area exceptionally well, having developed two acres of the site as successful, fully tenanted commercial units in recent years.
“Developments such as these are part of our contribution to the ongoing regeneration of Glasgow’s East End and we are confident that a significant number of jobs will be created when these units are occupied.”
Spectrum Properties, which focuses primarily on commercial property and owns around 700 such properties across Glasgow, has in recent years moved increasingly into residential development.
It directly employs 75 people and the same number of sub-contractors. It is actively recruiting to cope with current expansion plans.
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