New 15-year lease signed at Westway with Canmoor
Leading specialist engineering company, Doosan Babcock has committed its future to Renfrew, with the signing of a new long-term lease with Canmoor at its facility at Westway.
The company, which occupies circa 350,000 sq ft of offices, industrial and manufacturing space at the park, has agreed a new 15-year lease in what represents the largest industrial deal in Scotland this year.
Doosan Babcock has a long and established history at Westway, stretching back to 1895, when the company first pioneered boiler system technology from the site. Over the years, the company has evolved and diversified into the thermal power, nuclear, oil and gas, petrochemical and process industries. Using best-in-class technical expertise and an industry-leading project management capability, Doosan Babcock is a trusted partner to the global power industry.
Doosan Babcock will retain 60,000 sq ft of Block E, which is adjacent to the £8.8m Advanced Lightweight Manufacturing Centre. Officially opened by Scotland’s First Minister, Nicola Sturgeon and Professor Sir Jim McDonald, Principal of the University of Strathclyde earlier this year, the centre is currently developing novel lightweight solutions to help manufacturing businesses.
The news comes off the back of recent deals at Westway that include a new 120,000 sq ft design and build unit for one of Scotland’s largest wholesalers, JW Filshill Ltd. The longstanding Glaswegian family owned business was founded in 1875 and has now committed its next 17 years to Westway, in what represents Scotland’s largest industrial pre-let deal for five years.
An agreement has also been reached with Renfrewshire Council to construct a new bridge to link the park directly with Glasgow Airport. With delivery due for late 2020, the new infrastructure will give the Park unrivalled connectivity to both the M8 and Glasgow Airport. Since acquiring the Park in early 2018, Canmoor continues to execute its multi-million-pound strategy of refurbishment and upgrade of the existing buildings and as a result are in detailed discussions to attract new occupiers to Westway.
Westway offers a key strategic location in the heart of the Glasgow Airport Investment area, which is one of the key City Deal projects that will benefit from £40m of inward investment over the next 10 years.
Andy Colquhoun, CEO at Doosan Babcock, commented: “We have a long and proud history on the site and are delighted to commit our future to Renfrew.”
Tom White, Director from Canmoor said: “We have worked closely with the Doosan Babcock team over the past few months to secure this deal. Doosan Babcock is synonymous with Renfrew and we are pleased to be able to support their future business plans.”
Derek Mackay MSP for Renfrewshire North and West added: “This deal is great news for the park and for the Renfrew economy in general. It is pleasing to see Doosan Babcock commit to Renfrew and looking to the future with optimism and confidence. Renfrewshire is a great place to do business and a great place to invest.”
Canmoor’s joint agents are JLL and Colliers.