ReGlasgow

STERLING Furniture Retail Warehouse Plan For Ex-Car Showroom

9 July, 2024 | Retail

PLANNERS are considering whether a former car showroom at Hillington can be turned into a major furniture store with cafe and garden centre.

Sterling Furniture Group have applied to use premises near the M8 on Hillington Road. The development would create 60 full and part-time jobs.

A statement included with their application explains: “Sterling Furniture has been looking to secure representation in the Renfrewshire area for a number of years.

“They have good representation across the wider Glasgow conurbation with stores at London Road, Glasgow and Tannochside, Lanarkshire but have a gap in representation as it relates to the west /Renfrewshire area.

“Their requirements are to occupy an existing building circa 50,000sq.ft. on a single level. There are few opportunities available for buildings of that size in appropriate locations for such a use.

“The former Peter Vardy showroom is now vacant and offers an appropriate opportunity for conversion to a retail warehouse given its previous use and design.

The building was originally constructed as a furniture manufacturing and retailing unit.

The proposals are being assessed by Renfrewshire Council planners.

Evolve Finance are a Glasgow-based commercial finance brokerage serving the UK, specialising in all types of property finance for Property Developers, Landlords and Investors and offering innovative finance solutions, they welcome complex cases and back their experience to add value to any project.

Here’s just some development finance products that may be of interest.

Development funding for projects in Scotland: For projects from £750,000 to circa £50,000,000, this facility is typically for the purchase and ground up development costs of new build residential projects, large residential refurbishment projects or commercial projects with the loan repayment coming from the sale proceeds or re-financing to a term loan.

Scottish bridging finance options: This facility is typically used for projects ranging from £50,000 to £3,000,000, covering purchase and development costs of anything from one-bedroom flats to large commercial-to-residential conversions, as well as smaller new build developments like a single detached house or gap site projects of 6–12 flats.

Funding for buy-refurbish-refinance-rent strategies: The Buy, Refurbish, Refinance, Rent (BRRR) strategy is a highly effective method that enables you to rapidly grow a substantial, cash-flowing buy-to-let property portfolio, helping you maximize your investment returns and build long-term financial security through property.

Exit loans for nearly completed or completed developments: Developer exit finance comes into play when a project is nearing completion and awaiting sales or refinancing to complete. It repays the development finance and is typically at a lower interest rate, allowing developers to access profits or raise capital for future projects.

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