A DERELICT 30-acre site in Glasgow's East End is to be transformed into a business park bringing up to 1500 jobs.

The plot, off London Road, is the first major land purchase by the regeneration agency Clyde Gateway, who paid £3million for it.

Agency bosses described the site as "exceptional" said it would be developed as a "high-quality business park" appealing to new investors and businesses wanting to relocate.

A move to transfer Weir Pumps operations to the site, beside Auchenshuggle Woods, fell through in 2007.

The announcement coincides with a major Evening Times series into the East End; its past, present and future.

Ian Manson, Clyde Gateway's chief executive, said: "Our research shows there is an acute shortage of good quality industrial space in Glasgow.

"This site, which sits adjacent to the extended M74 and just two minutes from one of its major junctions, is exceptional in terms of location.

"Our plans are for it to be a major industrial site with up to 1500 jobs being located here, jobs available to local people but also jobs that will help grow the Glasgow economy.

"It's the first major move by Clyde Gateway, which is responsible for rejuvenating parts of the East End and South Lanarkshire.

"We have to sort out a lot of problematic sites, provide opportunities for local people and take advantage of some of the big investments coming into the area like the M74 and the Commonwealth Games.

"But most importantly we have to offer opportunities to industries to relocate and develop and grow in this area so that business opportunities are there in the East End of Glasgow for local people to take advantage of.

"People travelling along the M74 will look at this site and see the opportunity to invest and locate their businesses here.

"It will be a major junction and this will be part of the front door to Glasgow, Rutherglen, Shawfield and parts of South Lanarkshire.

"This will be the way that most people come into the city and they will look at the activity here and look at the industrial estate and they will see that this is the right thing to do, to join up the M74 investment with the opportunity for new jobs on this site."

Decontamination work has taken place on the brownfield site, a former coal mine.

The planning consultancy Halcrow has been commissioned to draw up a masterplan for the site which has outline planning consent for the erection of business, general industrial and storage and distribution units. It is capable of accommodating a number of different layouts with up to 45,000sq m of business space.

Building work is expected to start early next year.