Heterobimetallic complexes, (PPh(3))(2)M(mu-SCOPh)(2)Pb(SCOPh) [where, M = Cu(I) (1) or Ag(I) (2)] have been synthesized and characterized by FTIR, (1)H, (13)C and (31)P NMR spectroscopy. Molecular structures in solid state have been determined by single crystal X-ray diffraction. Electronic spectra of the compounds have been recorded and explained on the basis of TDDFT calculations. Luminescence and redox properties of the complexes have also been studied. Following the thermogravimetric analysis data the compounds were pyrolysed and one of the decomposition products has been characterized as Pb(4)Cu(5)O(22.6) (3) by SEM-EDX and X-ray diffraction studies.