Commercial Property News

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Thursday, September 11, 2023

Manchester-based Jaymar Estates acquire Paisley office block

Jaymar Estates Limited, a private Manchester-based property company has acquired the heritable interest in the substantial mixed-use office and retail block at 25-29 Causeyside Street, Paisley for a figure of 4.35 million.

The property comprises a substantial five-storey grade B listed building, providing 25,000 sq ft of good quality modern office accommodation over the upper floors with four retail units at ground floor level. To the rear of the property there is car parking provision for 52 cars.

The principal occupier within the building is Scottish Enterprise who occupy the entire office accommodation, together with one of the retail units. The other main retail tenant is Farmfoods Limited.

King Sturge represented the purchasers and David Johnston of King Sturge commented: "Our clients were attracted to this investment opportunity as it provides good quality income secured against strong covenants. The building itself provides very good quality office accommodation within Paisley town centre and significantly for a town centre building has an excellent car parking provision."