The 85,477 sq ft scheme, a joint venture between Oaktree Capital Management and Patrizia ag, known as Evolution Court, will be made up by four separate units and is expected to appeal to the manufacturing, logistics and distribution industry due to its proximity to the M8 motorway.
The Evolution Court announcement follows the news that motorcycle brands Ducati, Triumph and Harley-Davidson will be moving onto the Park in early 2017.
The proposed development is anticipated to support 120 full time jobs and help generate £6.3m annual GVA at the RenfrewshireGlasgow level, and 150 jobs and £10.9m GVA at the Scottish level.
Jamie Cumming, commercial director at Hillington Park said: “Evolution Court is in a prime position on the Park.
“This significant investment reinforces the commercial opportunities at Hillington Park for businesses looking to relocate into first class modern premises or for businesses already based here and who are looking to expand.
“There are very few new commercial property investments of this scale and type anywhere in Scotland and we’re very excited about it.”
Bob Grant, chief executive of Renfrewshire Chamber of Commerce said: “Hillington Park have demonstrated clear ambition with this significant commercial development, signalling their continued commitment to the area with a key investment.
“Few locations can match the connectivity and infrastructure Hillington Park enjoys with world class organisations already well represented. Evolution Court is a hugely welcomed addition to the Hillington portfolio and will offer excellent opportunities for companies wishing to relocate or expand their current operations.”
Hillington Park is located to the west of Glasgow and just two miles from Glasgow Airport and is the base for more than five hundred businesses employing around 8000 people including Balfour Beatty, BMI Healthcare National Enquiry Centre, DB Schenker and Arnold Clark.
Click below to sign up for more news like this in your region:
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement