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History
 Rosemount
Development Trust Limited was formed in 1989 by a group
of local residents who were concerned about the high
level of unemployment and poverty in Royston.
The Trust is a company limited by
guarantee with charitable status.
Since its formation, the
Trust has developed an important range of services for
the residents of the area.
These have been centred within the Millburn Centre (the
former Rosemount Primary School), for which the Trust
acquired a lease from Strathclyde Regional Council.
During the first stage of development, capital grants
totalling £600k were raised. An Urban Project Grant
provided £400k, and the balance was obtained from a
variety of funders, including Tudor Trust and Strathclyde
Community Business.
 This capital was then used to convert the main school building to provide 14,000 sq.ft. of office accommodation and child care facilities for a range of small businesses, training organisations and community groups.
In January 1993 "the Millburn Centre" was opened, and has
quickly progressed to 100% occupancy which it maintains
to this date. Some 70 people are employed in the Centre, with a substantial
contingent living in the Royston Corridor. In addition,
training has been provided by tenants to approximately
250 people during the first three years.
In September 1994 the Rosemount Commercial Centre was opened.
A further Urban Project Grant for £79k enabled this
second phase of development to be undertaken, i.e. the
conversion of the cycle sheds / toilets at the rear of
the main building to provide a further two business
units, and eight small workshops.
This has created an additional 33 jobs, and
the Commercial Centre occupancy level has averaged 90%
since.
With occupancy levels standing at 90%, on average vacancies are quickly filled.
As early as March 1993, the Directors recognised that in order to
achieve self-sufficiency, a larger portfolio of managed
workspace within the Royston Corridor was essential.
The former British Rail Workshops
were targeted and negotiations with British Rail Property
Board began.
A deal was concluded towards the end of 1997.As the owner
of the land, Glasgow City Council concluded a lease for
125 years with Rosemount Workspace Ltd. at very
supportive terms.
Our funding package was
achieved by a combination of Public and Private Sectors
finance.
Strathclyde
European Partnership - £839,000
Glasgow City Council (interest free loan) - £250,000
Glasgow Development Agency - £200,000
Our Private Sector Partners are the
Royal Bank of Scotland with whom we have forged a strong
commercial link to our mutual benefit. Revenue support is
being provided by Strathclyde European Partnership and
Glasgow City Council.
The Trust entered into a building contract with the G.A.
Group on a design and build basis and work commenced in
April 1998. Practical completion was achieved in January
1999 within our budget forecast.
The Workspace has proved to be a great success for the long-term sustainability of the company. We have achieved 100% occupancy, with a list of potential tenants seeking space within the site. We welcomed many new tenants, including in 2004, PR Print and North Central Office Supplies. One of the larger units was divided into smaller premises to accommodate the demand from small to mediums size enterprises. The smaller units are divided to suit the needs of the tenant, which includes erecting mezzanine levels and thus increasing the total lettable area of the site.
 At the latter end of 2004 we received a successful audit from the European Social Fund. Our staff, along with Wellwood Caldwell our financial consultant provided the auditors with all the necessary information to enable them to carry out the audit effectively. We also received positive reviews from our bankers, the Royal Bank of Scotland.
The Workspace progressed well both in occupancy levels and financial viability but we were aware of our commitment to clear of our private finance debt before the Workspace could make a contribution to the community on a larger scale.
Also in 2004 the Millburn Centre received attention from the Board of Directors. Most of the Trust's surpluses were invested in it's renewal - including renewing the paintwork and floor coverings of all common areas in the centre.
 The Roystonhill Spire
In November 2000, Roystonhill Spire and Park Ltd, a wholly owned subsidiary of Rosemount Development Trust, was formed to restore, preserve and maintain for public benefit, the A-listed structure forming Roystonhill Spire Glasgow, in recognition of its outstanding architectural merit.
More information about the architecture and history of the Roystonhill Spire can be found at the website www.roystonhillspire.com.
Rosemount has gone from strength to strength, contributing to the local area and the city of Glasgow as a whole.
Please contact us if you require more information about the company. |
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