A DEVELOPER has snapped up a historic building in the heart of Paisley in a multi-million pound deal.

Manchester-based Jaymar Estates has bought the five-storey Grade B-listed property in Causeyside Street for £4.3million.

Tenants have been told existing leases will continue.

The principal occupier is job creation agency Scottish Enterprise which rents 25,000sq ft of offices on the upper floors and one of four ground level retail units.

David Johnstone of commercial property consultants King Sturge represented the buyers.

He said: "Our clients were attracted to this investment opportunity as it provides good quality income secured against strong covenants.

"The building itself provides good quality office accommodation within Paisley town centre and, significantly for a town centre building, has an excellent car parking provision."

News of the sale comes a week after the Evening Times ran a six-part series on how the Renfrewshire town is turning around its fortunes with multi-million regeneration plans.

We highlighted some of the most exciting projects in the town - such as St Mirren's new football ground and the regeneration of the town centre.

Renfrewshire Provost Celia Lawson said: "I've been very encouraged by the number of people who've read the articles and come up to me to say how impressed they are at the extent of the positive changes that are taking place in the town.

"It's great that so many people have been alerted to the new approaches which are going to make a real difference."