PAISLEY'S office and retail sectors will be boosted in the spring when
two new schemes are completed. Both schemes retain many original
architectural features and should blend into Paisley's town centre.
Renfrewshire Enterprise are to occupy P&O Properties' 25,000 sq.ft 25/29
Causeyside Street which comes with 41 parking spaces. It is understood
that the rental achieved was #10 per sq.ft.
Built by the Co-operative Wholesale Society in 1910, the Grade
B-listed building is being redeveloped by P&O at a cost of #2.2m. Due
for completion in the spring, the prime site scheme includes four
ground-floor retail units which have been let. Office space is on three
upper floors which retain many original features of the building,
including listed tiles, a ballroom and fireplaces. P&O Properties were
represented by Speirs Gumley.
Renfrewshire Enterprise is one of Scottish Enterprise's Local
Enterprise Companies (Lecs). Its budget of #24m for next year will be
spent on economic development, training and the provision of property
for business.
The P&O scheme stands just across the road from the Paisley Centre,
the town's first covered shopping mall which is also on schedule for
opening in the spring. Around 85% of the scheme (a development by
Bredero and Arrowcroft) has been leased or is under offer. With lettings
to Marks & Spencer, Littlewoods, Boots, Scottish Co-op, In-Shops,
Dorothy Perkins, Hallmark, Stylo Barratt, Phone-In, Benetton, and the
Body Shop.
It is understood that rentals achieved are in the #70-#75 per sq.ft
range. The #60m centre will provide 180,000 sq.ft in stores and 50 units
on three levels. Sandy Cook, a Bredero director, said: ''The enthusiasm
being shown by retailers confirms our belief that such a centre is long
overdue in Paisley. Not only will it provide quality shopping, but it
will also generate around 500 permanent jobs and serve to attract
additional investment into the heart of the town.''
The design of the centre has been commended by the Royal Fine Art
Commission. It involved the rebuilding of a locally famous entrance on
High Street and retains existing stonework. The centre is the largest
shopping centre currently under construction in Scotland, involving
around 250 construction workers, 75% of them from the local area. The
building has soaked up 45,000 tonnes of concrete and 1750 tonnes of
steel reinforcement -- enough steel to go twice from Paisley to London
and back.
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