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OLD Victorian School Building In Glasgow Goes On The Market

11 September, 2024 | News, Listed / Historic Buildings

A HISTORIC former Glasgow school building which was converted into offices has been put up for sale.

Bellahouston Business Centre, originally Bellahouston Academy, is being marketed as a development opportunity by chartered surveyors DM Hall. Offers in excess of £1,250,000 are invited.

The Victorian building on Paisley Road West features a classically-symmetrical grey sandstone edifice and is dominated by a four-spired clock and bell tower with high-windowed wings featuring crow-step gables running out to its perimeters.

The B-listed building boasts a full height atrium, incorporating carved timber roof trusses and full-length skylights which provide natural daylighting.

DM Hall consultant Graeme Todd said: “This is a building which reflects the robust confidence of the Victorian age and, while it has been extensively refurbished, upgraded and converted for modern use, it retains a unique architectural elegance.

“It is flooded with light, and wide corridors bounded by cast iron and hardwood balustrades provide access to a total of 28 fully-equipped office suites on the ground and first floors.

“Our clients believe the subjects offer considerable potential, subject to planning, for a wide variety of uses such as residential accommodation, serviced flats, student accommodation, hostel premises, exhibition or gallery space or a reversion to the historic use of a school or training centre.”

Bellahouston Academy opened in 1876 as a private school. The site was donated by the Misses Steven of Bellahouston, whose generosity also provided the clocktower, and the building was designed by a Bath Street architect, Robert Balde.

The academy was initially run as a private venture by Alexander Sim, who was sole shareholder and first rector, and who described it as a “Boys’ High Class School and Ladies’ College”.

In 1962 it was replaced by a new building in Gower Terrace but continued as an annexe until it was finally closed in 2009. Following acquisition and extensive renovation, it opened as a business centre in 2016.

The property –- at 423 Paisley Road West, where it has a main vehicular entrance –- has a gross internal area of more than 22,000 sq ft and a dedicated enclosed car park with 48 spaces.

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Here’s just some of their products.

Property development loans 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.

Bridging loans in Scotland: 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.

Build to Rent Development Finance: Build to rent projects are gaining traction, with this facility funding projects from £750,000 to £50,000,000, typically for large-scale refurbishments and new build residential flats. The development finance transitions to a long-term commercial mortgage upon completion.

Development Exit Finance: Development 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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