ABERDEEN Investments, on behalf of the Standard Life Pooled Pension Property Fund, has acquired the remaining three units at Clyde Gateway East for £10m.
This follows Aberdeen’s initial acquisition in 2018, consisting of four let units and two development plots at the 29-acre urban logistics and manufacturing park.
The acquisition comes as Aberdeen forecasts urban logistics will be one of the strongest performing sectors over the next three years.
The transaction comprises unit 101, currently vacant and being marketed, unit 202 let to Turbine Services Ltd at £10.50psf and unit 301, let to Glacier Machining Solutions Ltd at £11.50 psf.
Each unit offers a secure yard, dedicated parking including EV charging, low energy LED lighting, office heating via air source heat pump, roof mounted PV panels and FTTP fibre connection.
It also has an EPC Rating of A, and air quality impact has been reduced by enabling the building to operate without fossil fuels whilst a whole life carbon assessment has also been undertaken.
Following its first acquisition at the Clyde Gateway East estate, Aberdeen Investments developed the plots, which were leased shortly after completion to Network Rail, Eden Mill and Smith Brothers Stores.
This was followed by the acquisition of a 50,000 sq. ft unit let to DHL in late 2020.
David Stewart, fund manager, Aberdeen Investments for the Standard Life Pooled Pension Property Fund said: “We are pleased to have secured these last remaining units at Clyde Gateway East.
“[This] consolidates our ownership at this prime urban logistics and manufacturing park with its great connectivity to the whole of the central belt of Scotland and beyond.
“The acquisition aligns with the fund strategy of investing in prime high-quality assets with superior ESG characteristics where we can add value through active asset management.
“It is an excellent addition to the growing portfolio.”
Martin McKay, chief executive, Clyde Gateway, said: “The sale of Clyde Gateway East to Phoenix Life is a landmark moment—not just for Clyde Gateway, but for the continued regeneration of Glasgow’s east end.
“It reflects the strength of our place-making strategy and the confidence investors have in the vibrant, high-performing business community we’ve cultivated.
“This milestone has been made possible with funding support from both Scottish Enterprise and the Scottish Government, whose backing has been instrumental in helping us attract high value manufacturing businesses to the area.
“At the heart of Clyde Gateway’s approach is a sustainable reinvestment model.
“By unlocking enhanced value from assets like this, we’re able to reinvest directly into new projects that deliver long-term social and economic benefits for our communities that deliver jobs, investment and inclusive growth.”