Clyde Gateway East Business Park

The project has a strong alignment with SPRUCE’s strategic objectives and also Scottish Government regeneration policy. The project is strongly backed by Scottish Government and Scottish Enterprise through the provision of grant funding as part of the capital structure. The project is also supported by Glasgow City Council, one of the members of the borrower’s parent charity company Clyde Gateway Urban Regeneration Company (URC). At the time of funding the project there were no pre-lets in place.

Clyde Gateway URC is one of five Scottish URCs established by the Scottish Government to deliver physical, economic and social regeneration in their specific geographical areas. It has three members, being Glasgow City Council, South Lanarkshire Council, and Scottish Enterprise, and is backed by funding and direct support from the Scottish Government. The company has stated objectives of sustainable place transformation, increased economic activity, and development of community capacity.

• Amber invested in this asset as it met the objectives of the SPRUCE fund.
• Amber is the Fund Manager to the Scottish Partnership for Regeneration in Urban Centres (SPRUCE) which is an Urban Development Fund (UDF) that supports regeneration and green energy projects throughout Scotland. The fund provides an innovative source of finance to eligible projects which are aligned to the Scottish Government’s regeneration and green energy strategies. Amber has been managing SPRUCE since its inception in 2011.
• SPRUCE is a recyclable regeneration and energy efficiency fund, sourced from the Scottish Government, the European Investment Bank and the private sector, and is an innovative source of finance for projects that deliver outcomes aligned to key Scottish Government policy objectives.
• SPRUCE supports a wide range of urban regeneration activity within well-defined, integrated, sustainable urban development plans. The Fund’s Investment Policy seeks projects in the following sectors: 
  • Rehabilitation of the physical environment
  • Construction of new buildings and/or renovation of existing ones and associated site specific infrastructure and servicing
  • Training and e-learning centres, including investment to increase ICT access
  • Creation of safe transport links between areas of opportunity and areas of need
  • Energy efficiency retrofit works delivering energy savings of at least 20% per annum
  • Energy production from renewable energy and low carbon technologies