SPECTRUM PROPERTIES EXPANDS PORTFOLIO FOLLOWING PLANNING PERMISSION FOR COMMERICAL UNITS IN GLASGOW
Glasgow-headquartered Spectrum Properties is set to expand an existing business park on a brownfield site in south east Glasgow with a range of different sized industrial and commercial units on a 1.8-acre site in Broad Street, close to the city centre.
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.
Now, the family-owned company has received full planning permission to bring new life to the neighbourhood by constructing and operating up to five new business units for general industry, storage, distribution and general business operations. The combined purchase and build-out cost will be around £3m.
One of the largest property companies in Scotland, Spectrum Properties, which focuses primarily on commercial property and owns some 700 such properties across Glasgow, has in recent years moved increasingly into residential development.
Managing Director, Bill Roddie (pictured above), 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.”
He added: “Equally, we are aware that there continues to be substantial underlying demand from business people for units of these dimensions and specification. 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 directly employs 75 people and the same number of sub-contractors. It is actively recruiting to cope with rapid expansion. Established by Mr Roddie in 1988, the company now has a portfolio valuation of £60 million and a turnover more than £5 million.