Historical property management company Speirs Gumley is moving its 70-strong Glasgow workforce from its Bath Street headquarters to the new Red Tree Magenta building at Clyde Gateway.

The move comes as the company plans to further expand its team and improve its productivity.

Speirs Gumley, which was established in 1827 and also has an office in Edinburgh, provides residential and commercial property management and residential letting services. The company has agreed a pre-let on the third floor of the four-storey building, which is set to complete this summer.

Red Tree Magenta, which will become the first building at the new Magenta business park on the former Shawfield site in Glasgow’s east end, is the latest addition to the popular Red Tree brand developed by Clyde Gateway, with existing premises at Rutherglen and Bridgeton.

Lorraine MacDonald, owner at Speirs Gumley, said: “All of the staff came to view the Red Tree Magenta offices at an early stage of the construction process and were very impressed with the superb facilities and increased space over our existing city centre premises.

“This new modern environment will provide the perfect backdrop for our business as we continue to evolve and grow. As we invest in the long term future of the company, our new office will assist our business productivity and provide fantastic facilities for our visiting clients and employees alike. It is also remarkably easy to get to by both road and rail, and having ample parking available on site is a huge benefit for the many members of our team whose roles involve travelling to appointments to meet our clients.”

Lord Smith of Kelvin, the chair of Clyde Gateway, said: “I am delighted to give a very warm welcome to Speirs Gumley as the first pre-let tenant at Red Tree Magenta. This dynamic company has seen first-hand why this area is an ideal business destination. With a number of other units at Red Tree Magenta now under offer, other businesses are quickly realising the enormous benefits, including excellent transport links, a skilled labour force and quality local amenities.”

Built at a cost of £9 million, Red Tree Magenta includes a communal garden terrace, various collaborative working and breakout spaces, small and medium events spaces and meeting rooms, free parking and cycle lock facilities, as well as onsite showers and changing rooms.

A corporate grade fibre connection is standard and once fully occupied the building will have the capacity to support 340 new jobs.

Red Tree Magenta sits within Magenta at Clyde Gateway, a new 27 acre urban business park, which is being developed by Highbridge Properties Plc in partnership with Clyde Gateway. Situated next to the River Clyde and M74 motorway network, it is estimated that the completed Magenta development will bring at least 12,000 full-time jobs to the area.