A Glasgow-based commercial property firm is set to expand its portfolio with two key acquisitions in East Killbride, after securing a seven-figure funding package from Royal Bank of Scotland.
Murphy Group constructed a new commercial trade park in Stroud Road Trade Park as well as purchasing the existing East Kibride office development, Arx House (formerly the East Kilbridge Technology centre).
The 23,760 sq ft high-spec workspace at Arx House is currently let to a variety of tenants, while the new Stroud Road Trade Park has already pre-let 9,000 sq ft to kitchen retailer Magnet, with construction due to be completed in September 2019.
Glenn Murphy, CEO of Murphy Young Group, said: “These new assets are fantastic additions to our growing portfolio of properties. Arx House is an important asset in the area as it provides potential tenants with a variety of options and is well connected to the surrounding area with brilliant transport links. We will be investing in the property to attract businesses looking for premium office space in a key location.”
“There is an increased demand for high-quality commercial trade units in Scotland, demonstrated by our pre-let to Magnet and by [the] interest in the remaining spaces.”
Founded in 1998 by Glenn Murphy, Murphy Young Property, part of the Murphy Young Group, has grown to become a specialist multi-let property provider.
The Group also provides specialist services in commercial property, engineering consultancy, business and utility support services, as well as aviation and food import operations across the UK.
Gus Johnstone, Relationship Director at Royal Bank of Scotland, said: “The Murphy Young Group continues to grow, thanks to its ability to identify and secure prime assets and investment opportunities. Arx House and the Stroud Road Trade Park are solid additions to its already diverse portfolio, and we wish Glenn continued success in the future.”