Queenslie Business Park, Glasgow

Valuation 31st March 2018:

£14,450,000 (Pre-planning)

Valuation at IPO:

£13,800,000

Contract Rent 31st March 2018:

£1,386,000

Contract Rent at IPO:

£1,312,000

Occupancy:

94.6%

Key tenants:

Siemens, Soapworks, Marine Products

What is it?

The estate comprises 348,000 sq ft of warehouse space on a 55-acre site, with an average rent of just £4.19 per sq ft. The site has its own junction on the M8 motorway and includes 16 acres of potential development plots, suitable for a range of occupiers.

What have we done since IPO?

Since IPO, we have continued working on marketing the site to increase its profile and have let three vacant units and renewed leases on a further three, further increasing occupancy from 88.5% to 94.6%. We have also submitted a planning application for change of use on 16 acres of the site and expect a decision in mid-2018.

What is the future?

In the near term, we will complete the £200,000 refurbishment of Block 14. Longer term, our aim is to reposition Queenslie as Glasgow’s leading mixed-use estate. As part of this, we will seek pre-lets so we can bring forward a risk-free development.

Visit Queenslie Park dedicated website