Aberdeen Investments, acting on behalf of the Standard Life Pooled Pension Property Fund and represented by Ryden, has completed the purchase of the final three units at Clyde Gateway East Business Park for £10 million.
This acquisition consolidates Aberdeen’s ownership of the park, one of Central Scotland’s most sought-after industrial locations. The Investment firm first entered in 2018 with the acquisition of four fully let units and two development plots. Those plots were subsequently developed and leased to Network Rail, Eden Mill and Smith Brothers Stores. In 2020, Aberdeen expanded its presence further by purchasing a 50,000 sq ft unit occupied by DHL.
This latest transaction adds the three remaining units at the urban logistics and manufacturing park to its portfolio strengthening its long term commitment to Clyde Gateway, Scotland’s most ambitious regeneration programme. It will also support the funding of the next wave of regeneration projects across the Clyde Gateway area.
David Stewart, Fund Manager at Aberdeen Investments for the Standard Life Pooled Pension Property Fund commented on this transaction:
“We are pleased to have secured these last remaining units at Clyde Gateway East, which 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, added:
“The sale of Clyde Gateway East to Aberdeen Investments is a landmark moment, not just for Clyde Gateway, but for the wider 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 created.
“At the core of Clyde Gateway’s approach is a sustainable reinvestment model. By unlocking enhanced value from assets like this, we’re able to channel funds directly back into new projects that deliver long-term social and economic benefits for the communities of the east end and Rutherglen.”
Ryden’s Investment Partner Stuart Low and CMS Cameron McKenna Nabarro Olswang LLP advised Standard Life Pooled Pension Property Fund on the acquisition. Clyde Gateway was represented by Avison Young and Burness Paull.
