Greenock-based entrepreneurs Sandy and James Easdale have added to their property portfolio with the acquisition of a single-storey warehouse in the town.
The 10,135 sq ft property, situated on Port Glasgow Road two miles east of Greenock town centre, has been purchased for the sum of £685,000 plus VAT.
The depot is currently occupied by Travis Perkins on a long-term lease and provides a trade counter, offices, storage areas and functions as a builders’ merchant.
The deal is the third major commercial property purchase in the town by the Easdale family in the last 18 months, bringing their property investment over this period to more than £6million.
Earlier this year, their transport firm, McGill’s Buses, purchased 26 new buses to serve Glasgow and the west of Scotland in a deal worth £4.75million – which took capital investment by McGill’s over the past five years to more than £30 million.
Sandy Easdale said: “We’re pleased to complete this latest deal to add to our commercial property holdings in Greenock. The building is located on a main arterial route and is already providing a good yield from an established tenant. We’ve said that we continue to look for opportunities to invest in Greenock and the rest of Scotland and this is the latest example of that.”
James Easdale said: “Around this area of Greenock and into Port Glasgow there is a series of commercial premises which provide vital economic activity in the area. It is a good location for us to invest, especially having purchased the nearby Cappielow Trade Park last year which has gone well for us.”
Breck Sutherland acted for the purchasers. The warehouse was marketed on behalf of the seller by Eric Young & Co.