A business park on the southside of Glasgow billed as a “huge success story” has unfurled the for-sale flag.
Spiersbridge Business Park in Thornliebank, which spans 77,000 square feet of office and industrial space, has been brought to market at offers over £9.5 million. It comes nearly 20 years after its owners first conceived and began to develop and operate the site, which lies 10 miles from Glasgow city centre and around a mile from the M77 motorway.
The park comprises a business centre, a two-storey office building occupied by East Renfrewshire Council, and a number of industrial units, all of which are fully let. It produces a current annual rent receivable of around £839,000 per annum and, at £9.5m, equates to a capital rate of £123 per sq ft.
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The park is now being marketed by DM Hall, one of Scotland’s largest independent firms of chartered surveyors, alongside joint agent Lapsley McManus.
Jonathan McManus, a partner of agency at DM Hall said: “Spiersbridge Business Park is a huge success story, providing highly sought-after flexible business space on the southside of Glasgow and little over a mile from the M77. This investment is ideal for new owners seeking secure income.
“The current owners have built a strong product with a waiting list for the space within the estate from interested potential tenants.
“DM Hall and Lapsley McManus are seeking offers over £9.5m reflecting a yield of 8.28%.”
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