PG Paper and Riverside Inverclyde Agree Two-Year Lease Extension

PG Paper and Riverside Inverclyde Agree Two-Year Lease Extension

PG Paper Company Ltd has announced that, following a period of negotiation between themselves and their landlord, Riverside Inverclyde in order to agree a two-year lease extension. The paper company is a leading global exporter of paper and has negotiated the extension for their existing lease at Greenock’s Custom House.

At the moment, PG Paper Company leases 3,896 sq. ft. at the Georgian Custom House. The company has been a tenant of Riverside Inverclyde’s since phase three of the restoration of the building was being completed in September 2015. The Georgian building has been described as an architectural masterpiece and it is great news for Riverside Inverclyde and PG Paper Company that the lease extension has been agreed on.

The company was first created and is now managed and driven by the company CEO, Poonam Gupta OBE in 2003. Since first being established, the company has grown significantly and is now known for being one of Scotland’s largest exporters. PG Paper Company has a presence in more than 55 different countries across five different continents. The company exports a large majority of their sales to the Indian subcontinent as well as South East Asia, working predominantly from their Greenock headquarters.

It was important for the paper company to maintain the lease at Greenock’s Custom House, as it is an amazing building and despite looking at other locations, wanted to stay at this location. The company has developed a very good relationship with their landlord and this is also another vital reason that the company wanted to extend their lease and stay put. PG Paper was one of the first tenants at Custom House and it is great news that they have agreed on a lease extension.

Custom House restoration work has taken place over four different phases over the course of four years. It has been calculated to date that the work has cost £4.1 million and has transformed the 18,000 sq. ft. in to productive business space that has been in high demand from a range of different companies.

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