The £9 million, 40,000 sq ft Red Tree Magenta building has been delivered by Clyde Gateway Development Limited at Magenta, a new 27-acre urban business park situated next to the River Clyde and M74 motorway network.

It has been designed to appeal to SMEs, recognising their growing demand for flexible and collaborative workplaces and enhanced specification and services.

The influx of new occupants means that Red Tree Magenta - the third Red Tree building that Clyde Gateway has delivered – is now 82% let, less than a month after opening its doors.

The ten small and growing companies will bring 38 new jobs to the area and join the building’s two larger tenants, property management company Speirs Gumley, which has signed a pre-let on the building’s entire third floor, and BRE Scotland who will occupy the second floor.

Like the two larger tenants, many of the new occupants are in the property sector, such as fit-out contractors Calma Group, commercial interiors IDAco, construction site monitoring company I-Watchers, cavity wall insulation specialists Beinn Group, and a local architectural practice.

They are joined by Inspire Scotland, who specialise in residential care for children, lighting e-commerce business Scotlight Direct, events monitoring digital technology business Raven Controls, HR and recruitment specialists Best Consultancy and accountants Evolve Accountancy.

Ian Manson, chief executive at Clyde Gateway, said: “Our Red Tree business suites model has already proved itself extremely popular at Red Tree Rutherglen and Bridgeton, and the fact that Red Tree Magenta is heading rapidly towards full occupation just a few short weeks after opening is testament to the outstanding accommodation, facilities, business support and transport links on offer here.

“I’d like to extend a very warm welcome to all our new tenant companies, who are joining the growing number of dynamic and entrepreneurial organisations here at Red Tree Magenta and within Clyde Gateway as a whole.”

Paul Bailey from Best Consultancy said: “We’re very excited to be settling in to our new office at Red Tree Magenta. We were previously based in Glasgow City Centre but unfortunately the office could not meet our growth demands. When considering a location for our new premises, as well as the quality of the office accommodation we loved the fact that we’d be joining other like-minded small businesses.

“The fact that there are collaborative working and breakout spaces available, and even a communal roof terrace, will allow us to meet and share ideas with the other companies here and really feel like part of a community, which is important to us. We are also really excited to be a part of the regeneration story of Clyde Gateway.”

Clyde Gateway Developments Limited is working in partnership with Highbridge Properties Plc to develop the remainder of the Magenta business park, which it estimates will eventually bring around 12,000 full-time jobs to the area.

Guy Marsden, director at Highbridge Properties Plc, said: “Across all sizes of business, there’s a growing focus on improving employee wellbeing – while some workers are happiest in bustling open-plan spaces, others need smaller, quieter places to focus. For start-ups and SMEs, this search for more flexible, adaptable spaces often leads them to facilities like Red Tree Magenta, which works particularly well because it can accommodate the solo entrepreneur at a rental desk for a month, but also a larger team across a whole floor for the long haul.”