AWG Property and HF Developments End Joint Venture Partnership

HF Developments and AWG Property Ltd have reached full and final agreement on all remaining matters associated with their joint venture relationship.

Following strategic reviews of their individual corporate aims, the companies have elected to dissolve the partnership established 15 years ago.

An agreement has been reached between both parties which will see HF Developments continue as the sole developer on the g1 George Square development in Glasgow.

An earlier agreement concluded in February of this year saw HF Developments buy out AWG’s 50 per cent shareholding in both Strathclyde Business Park and Hamilton International Park.

AWG Property will take sole control of the development process at Nevis House and Kilpatrick House at Hamilton International Park, which were previously in joint ownership. HF Developments will take sole control of Prospect House, and continue with the future development of office accommodation and Park management at Hamilton International.

While maintaining a strong pipeline of development projects in locations such as Cardowan on the outskirts of Glasgow and Celtic Springs, south Wales, AWG Property is seeking to expand its investment portfolio.

HF Developments continues to consolidate its position as one of Scotland's leading independent developers, with further expansion across the investment, development and management groups.