A BARRHEAD office occupied by a community bank that went bust has been put up for sale.

Pioneer Mutual Credit Union, based in Main Street, went into administration in March and immediately ceased trading.

The Financial Services Compensation Scheme (FSCS) stepped in to protect its 3,500 members, with the total payout to Barrhead customers believed to be around £3.3million.

Leeds-based PKF GM were appointed as administrators and tasked with investigating why the credit union failed and who, if anyone, was responsible.

Credit unions are financial cooperatives that are owned and controlled by their members and operated on a not-for-profit basis.

Pioneer Mutual was previously known as East Renfrewshire Credit Union and, before that, Barrhead Credit Union when it was formed in 1993.

Shepherd Chartered Surveyors have now brought the Main Street office to the market for sale.

They describe it as a “prominent Class 2 retail unit situated within the main retailing thoroughfare within Barrhead.”

In addition to the retail and office space, the 1,443 sq ft property includes a terrace of three lock-up garages at the back.

Christopher Johns, surveyor at Shepherd, said: “Given this property’s location on one of Barrhead’s main retailing pitches, its proximity to residential housing, the generous return frontage and the benefit of the Class 2 consent, it offers extremely desirable accommodation within its local context.

“The three garages also offer opportunities as, while they are currently income producing, they could potentially be redeveloped, subject to the appropriate consents being obtained.

“As a result, we anticipate the property will generate much interest.”

The property is being marketed in whole or in part, with offers in excess of £150,000 invited for the whole building.

Interested parties should call 0141 331 2807.