The Royal Bank of Scotland has committed £15m of funding for the first phase of Elphinstone’s new business park at Greenlaw Park on the outskirts of Glasgow.
The move comes as Whitbread revealed plans for a Premier Inn on the 35-acre mixed use site near Newton Mearns. Last month office group Evans Easyspace reached agreement to develop a 20,000 sq ft business centre and Elphinstone obtained planning permission for Greenlaw Village retail centre.
Work on the site infrastructure is due to be completed by the end of the year. RBS’s backing will provide funding for 30,000 sq ft of office space including Elphinstone’s new headquarters.
Ken Ross, chairman and chief executive of Elphinstone, said RBS’s backing was excellent news in the current climate.