Latest news with #UnionStreetDevelopments
Glasgow Times
a day ago
- Business
- Glasgow Times
Grant for developer of Glasgow's Egyptian Halls approved
The funding — which will be dependent on the completion of a compulsory purchase — is expected to go towards 'bricks and mortar' construction work, rather than feasibility studies. Glasgow City Council is investigating the possibility of buying the rundown Alexander 'Greek' Thomson-designed halls on Union Street, where the upper floors have been lying empty for decades. If a compulsory purchase order (CPO) goes ahead, the property could then be transferred to a developer to bring it back into use. A development brief is set to be published this month, which will be made available to interested parties. They will have 12 weeks to submit proposals. READ MORE: Grant on offer for potential developers of Glasgow's Egyptian Halls It was previously revealed a consortium, including the publisher of the List magazine, with plans for a food market and hotel are keen to take on the halls. The building is currently owned by two companies — Union Street Developments and Union Street Properties — both run by Dundee businessman Derek Souter and his partners. They will also be invited to submit proposals to the council — and are able to sell the property voluntarily at any point. Councillors backed the potential grant at a meeting of the city administration committee on Thursday. Cllr Ruairi Kelly, SNP, the council's convener for built heritage, said the aim of the grant is to 'instigate interest and ensure we have got credible bids coming forward'. It is also to 'assure any organisation that we will be an active partner in bringing the Egyptian Halls back to purposeful use', he added, and to 'signify our dedication to supporting whichever organisation is successful through that procurement process'. The cash would be released at an 'appropriate point', with milestones to be set during any renovation project. Cllr Kelly said it is intended to fund 'bricks and mortar construction work, rather than feasibility studies or planning or anything like that'. READ MORE: 'Glasgow deserves better': Heritage groups slam approval of O2 ABC site plans He added there was 'no doubt' the developers would require funding from other sources, whether 'investors, heritage organisations, or wherever else the prospective bidder says they are going to raise the funding from'. Cllr Kelly's paper came after councillors supported a recommendation to investigate the use of CPO powers in February. Officials will evaluate proposals for the halls against a criteria which will include how they intend to retain and use the building, previous experience, timeframe and deliverability and funding. A preferred proposal could then be selected, with the council promoting a CPO to buy the building for the chosen party. The plan would be for the council to enter a 'back to back agreement' with a developer. It would include obligations to have planning permission, show reasonable attempts to voluntarily buy the property and an undertaking to 'meet all of the council's costs including compensation payable as a consequence of the CPO'. Cllr Kelly previously said CPOs can be 'lengthy and complex' but it would be 'the first major step towards the repair and reuse of this beautiful building'.
Glasgow Times
6 days ago
- Business
- Glasgow Times
Grant on offer for potential developers of Glasgow's Egyptian Halls
Glasgow City Council is considering buying the rundown A-listed halls — by architect Alexander 'Greek' Thomson — on Union Street, where the upper floors have been lying empty for decades. It is investigating a possible compulsory purchase order (CPO), which could then see the celebrated property transferred to a developer to bring it back into use. Council officials are preparing a development brief which will seek proposals from interested parties. It was previously revealed a consortium, including the publisher of the List magazine, with plans for a food market and hotel are keen to take on the halls. READ MORE: Here's how much taxi fares in Glasgow could rise under new proposals The building is currently owned by two companies — Union Street Developments and Union Street Properties — both run by Dundee businessman Derek Souter and his partners. They will also be invited to submit proposals to the council — and are able to sell the property voluntarily at any point. Council officials previously reported a bid from an 'interested party at a figure in excess of an independent valuation' had not been accepted. Cllr Ruairi Kelly, SNP, the council's convener for built heritage, is set to present a report to the city administration committee on Thursday which asks councillors to approve a £150,000 grant. It states an 'initial grant' of £150,000 towards the costs incurred by the developer would be made available in 'recognition of the importance of the Egyptian Halls to the fabric of the city centre' and the council's commitment to 'the built heritage of the city'. READ MORE: Plans approved for 410 student housing rooms in Glasgow's Anderston The money would be paid at 'the appropriate point' based on agreed milestones during the renovation, refurbishment and re-use of the halls. Cllr Kelly's paper comes after councillors supported a recommendation to investigate the use of CPO powers in February. The development brief is expected to be issued this month, and will give a period of 12 weeks for proposals to be submitted. Officials will then evaluate proposals against a criteria which will include how they intend to retain and use the building, previous experience, timeframe and deliverability and funding. A preferred proposal could then be selected, with the council promoting a CPO to buy the building for the chosen party. According to a council report from February, the plan would be for the council to enter a 'back to back agreement' with the developer, which would include obligations to have planning permission, show reasonable attempts to voluntarily buy the property and an undertaking to 'meet all of the council's costs including compensation payable as a consequence of the CPO'. Cllr Kelly previously said CPOs can be 'lengthy and complex' but it would be 'the first major step towards the repair and reuse of this beautiful building'.
