The Queenslie Park industrial estate scheme will deliver up to 250,000 sq ft comprising a combination of distribution, industrial, commercial, storage, retail and hospitality space, with a GDV of £25m.
Savills secured the permission on behalf of Warehouse REIT and worked closely with project architects 3DReid in formulating forward-looking plans to revitalise the site.
Ruth Highgate, associate at Savills, said the planning and development team in Scotland was delighted to have secured consent for the project.
“It unlocks the potential for [the] wider provision of industrial and business use as well as supporting retail, leisure and other commercial uses, which will help improve the overall quality of Queenslie Park.
“The combination of its location on the M8 east of Glasgow, and the exciting opportunities that can be delivered through this planning consent, will really put Queenslie on the map.
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“This is a significant prospect for both the city of Glasgow and the community living and working in and around Queenslie.”
The 16-acre site forms part of Warehouse REIT’s wider 56-acre holding at Queenslie Park, including around 350,000 sq ft of existing floorspace.
“Securing this permission marks the culmination of over 24 months working closely with a number of stakeholders, ranging from the city council and local elected members through to existing occupiers and local residence, as well as providing a further example of how the management team continues to extract value from the original portfolio acquired at IPO,” said Andrew Bird, managing director at Tilstone Partners, the manager of Warehouse REIT.
Mark Lorimer, associate director at 3DReid, added: “In our role as architects and master planners, we are thrilled to be part of the Tilstone Partners team for Queenslie Park.
“The client has a clear vision to transform Queenslie Park, and we very much look forward to helping them realise the full potential of the development.”