10th June 2018

Ediston targeting a Q3 start for its Crown Street Retail Park, Glasgow

Ediston has announced that it has achieved detailed planning consent for its Clydebuilt Funds retail warehouse development at Crown Street in Glasgow.  The large scale inner city regeneration project, which also include for the development of around 360 homes obtained consent from the City Council in March 2018 for this.

The site, which is bounded on one side by the M74 and sits in an area of Glasgow which has seen significant housing development over the past 5 years, extends to 11 acres.  The development will provide 125,000 sq. ft. of retail warehouse accommodation and is 65,000 sq. ft. pre-let.

Pre-let agreements have concluded with Aldi (18,000 sq. ft.), B & M (23,000 sq. ft. and 7,000 sq. ft. garden centre).  Iceland Food Warehouse has also signed up for 15,000 sq. ft. as have Costa and Burger King for drive through restaurants (1,800 sq. ft. and 3,000 sq. ft. respectively).

Building works are expected to commence in Q3 of this year with the Park set for tenant handover in summer 2019.

Alastair Dickie of Ediston commented: “We are proud to be at the heart of another major regeneration project in Strathclyde with our Clydebuilt Fund which is a successful joint venture between Ediston and Strathclyde Pension Fund.  The development of much needed retail provision and amenity for the local community alongside much needed housing is the perfect solution for a site which has remained vacant for more than two decades.  In a retail market where there has been a constant stream of bad news recently we are evidencing that there is real tenant demand in the sector for good quality, well located parks at sensible rental levels.