MCR Property Group has acquired Granite House in Glasgow city centre in an off-market deal, adding to its Scottish portfolio.
Granite House is on Stockwell Street and was built in 1892 as a drapery warehouse.
The building is recognised for its architecture and central location.
MCR plans to update the building into a mixed-use site, with workspace, homes and ground-floor retail.
Interest from retailers in the ground-floor units has already been received.
Nick Lake, fund director at MCR Property Group, said: “Granite House is an iconic Glasgow building with enormous potential to contribute meaningfully to the city’s next chapter.
“Securing this off-market opportunity underscores our confidence in Glasgow and our long-term strategy across Scotland.
“We look forward to working with the council to deliver a high-quality scheme that blends commercial activity with modern city-centre living.”
