Sale of Paisley Warehouse
C&W was appointed as development advisor by Cadbury Schweppes to consider the disposal of the former 9,206 sq m (99,263 sq ft) distribution/warehouse facility on a site of 2.79 hectares (5.63 acres). Located in the heart of Paisley, Scotland's largest town and within 5 minutes drive of Glasgow International Airport, the subjects are situated in a mixed use area comprising mainly of residential and other commercial/retail uses.
Cushman & Wakefield carried out a comprehensive marketing campaign identifying a suitable residential developer to work with Cadbury Schweppes to carry out comprehensive due diligence on the site and submit a formal planning application for a scheme comprising 30 detached houses and 27 flatted developments.
The site was sold to Persimmon Homes following a planning application being approved in December 2007 with C&W unlocking the site's development potential achieving Cadbury Schweppes' objective of the best price for the site within a restricted time period.