July 2008

Greenlaw Park, Phase 1 Achieves Detailed Planning Consent

Phase 1 of Greenlaw Park, the new 500,000 sq.ft. business park by Elphinstone, has received detailed planning consent. Due for completion in Autumn 2009, Phase 1 provides approximately 82,700 sq.ft. of highly specified, flexible, office space in 2 buildings with a car parking ratio of 1 to 300 sq.ft. including some under-croft. Maximising flexibility, space is available to both lease and purchase with options ranging from 4,000 sq.ft. to 52,000 sq.ft.. A third building of managed offices by Evans Easyspace is currently applying for planning consent.

Located immediately off Junction 4 of the M77 and under 20 minutes from Glasgow city centre, Greenlaw Park gained outline planning consent last year and is part of a 132 acre mixed use development comprising 400 new houses, a school and a retail and community hub.

It is being developed in three phases and, in addition to food and beverage outlets, will include a hotel with meeting and health/fitness facilities. Phases 2 and 3 will provide approximately 420,000 sq.ft. of office space with a variety of building design options ranging from 30,000 sq.ft. to 250,000 sq.ft. Occupiers will be able to choose to build on Greenlaw Parks' Very Good BREEAM rating by specifying and incorporating their own environmental innovations required for their businesses.

Commenting Ken Ross, Chairman and Chief Executive of Elphinstone, said, I am very pleased that we have achieved detailed planning consent for Phase 1 of Greenlaw Park. From the design stage our ambition has been to create a sustainable development which enhances the local area and supports the local economy. We believe we have achieved these goals while providing first class office accommodation for occupiers and their employees.

Raising the design standards of existing Scottish business parks, Greenlaw Park has the ethos of meeting the wider needs of occupiers and their employees in terms of highly specified office space, an excellent working environment and on site amenities. Greenlaw Park retains the benefits of its fabulous countryside surroundings, builds on its ease of motorway access, public transport and local amenities and the availability of a highly skilled local workforce.

Within Greater Glasgow, known for its ability to attract and retain substantial inward investment in the banking, finance and IT sectors, Greenlaw Park has access to an abundance of highly skilled, well educated people with proven track records of productivity. Greenlaw Park's surrounding communities are some of the most affluent in Scotland.

Located in the catchment area of some of the top schools in Scotland, Greenlaw Park is only 20 minutes away from Glasgow International Airport, and 25 minutes from Prestwick Airport. Glasgow, the UK's second largest retail market outside of London is nearby with Silverburn shopping mall only 7 minutes drive away. Greenlaw Park also has excellent public transport links, the local train station is under 10 minutes walk away and connects to the UK rail network in under 30 minutes. The surrounding local communities boast excellent amenities including both private and public child care facilities, leisure opportunities and numerous food and beverage outlets.

The letting agent for Greenlaw Park is DTZ, Glasgow office.