ScottishPower building at Hamilton International Park sold for £22 million

Investment sale is largest West of Scotland business park deal this year

The AWG Property and HF Developments Joint Venture has concluded the £22 million investment sale of ScottishPower’s new ‘Centre of Excellence’ at Hamilton International Park.

The investment sale to Merchant Place is the largest business park deal concluded in the West of Scotland so far this year.

When completed in Summer 2006, ScottishPower will lease the new 67,000 office development and build upon their established presence in Lanarkshire.

Stephen Kelly, director of AWG Property said: “This deal demonstrates the on-going success of Hamilton International Park and highlights the continued level of demand from investors for high quality product in what is a proven business park location.

“Recent lettings to the likes of First Engineering, ICM and Scottish Power demonstrate the attraction of the Park to major employers seeking top quality office accommodation to the highest specifications.”

William Hill, managing director of HF Developments, said “The conclusion of this sale highlights the long term investor confidence in Hamilton International Park and is testament to the quality offering we have here. The past year has been extremely successful for us in terms of attracting a high calibre of investors and we are looking forward to seeing this trend continue through 2006”

This new building represents the latest chapter in the relationship between ScottishPower and the AWG / HF joint venture. The JV has now provided 120,000 sq ft of quality office space to ScottishPower between Hamilton International Park and Strathclyde Business Park

The energy company’s decision to locate 800 staff to the new Centre of Excellence office building in February 2005 was one of the major deals at the park last year.

ScottishPower’s Centre of Excellence will allow customer collection teams to manage their operations more effectively and help meet the needs of their expanding customer base.

Notes to editors:

Hamilton International Park is a joint venture between AWG Property Limited and HF Developments to develop over 400,000 sq ft (37,161 sq m) of specified grade A offices. Phase I provides over 140,000 sq ft (13,006 sq m) to meet the requirement of modern businesses in Aspect House, International House, Campsie House and Kilpatrick House.

The park is centrally located in the heart of Scotland, approximately 13 miles south east of Glasgow City Centre. It is served by the A725 East Kilbride Expressway, which provides quick and easy access to the M8 (Glasgow & Edinburgh) and M74 (Carlisle & the South) motorway networks. DTZ Debenham Tie Leung, Lambert Smith Hampton and Ryden are retained letting agents for the available office accommodation at Hamilton International Park.