Barmy town centre shop sell off plan

Jamie Borthwick • Published 28 Apr 2010 15:00

SHOPS and offices in a prime regeneration spot could be sold off at "rock bottom" prices - despite a predicted price boom - as the cash strapped council looks to build up its dwindling coffers.

The move has left business people and property experts baffled as the shops in question are on a key street set to benefit from the town's redevelopment.

Property values are expected to rise considerably there.

However, a private consultant commissioned by West Dunbartonshire Council (WDC) says the 11 properties on Alexander Street are in a "poor location" for business.

The consultant, Ryden Chartered Surveyors, recommends WDC flogs them to the current tenants despite the regeneration plans.

Tom Sheridan, of Clydebank Estate Agents, said the only way is up for property prices on Alexander Street - which dates back to 1880.

He told the Post: "I would envisage the price going up because if it becomes part of a commercial centre more traffic will come through.

"A two million pound investment in the area will drive prices up.

"It can only go one way because commercial and residential prices are at rock bottom."

The properties are described as being in a poor state of repair and at risk of being left vacant if tenants move on.

But with a £2m facelift planned to turn the street into a gateway linking the shopping centre and Queens Quay, the move could potentially deprive the council of key assets in the future.

Sitting tenants include florists, barbers, hairdressers, restaurants, the Citizen's Advice Bureau, and solicitors, who were unaware of the sell-off proposal despite it due to go before the council next week.

They are now eager to talk to WDC - which was recently criticised for having a tiny pot of emergency funds - about the plan.

The proposal to off-load the properties is recommended to be approved by councillors at WDC's Housing, Environment and Economic Development (HEED) committee at Clydebank Town Hall next Wednesday.

The papers circulated among members, who will vote on the matter, say their sale along with another six properties elsewhere could raise £1.33m, though it would lose £125,000 a year in rent.

Tenants reacted with caution to the proposal.

Lorraine Roberts, who has run Lainey's snack bar for 14 months on Alexander Street, said: "We should have been first to know - I have a lease here until 2015.

"I'm interested to speak to the council and see what it is offering."

Ross Ballantyne, whose Ballantyne's Barbers has been on the street for 35 years, said he was curious about the proposal.

He added: "We've been here a very long time and I would have to hear something direct from the council before making my mind up."

Craig McLaughlin, SNP finance spokesman and a member of the HEED committee, said: "Like anything we need to make sure we get the best value for the council and while officers can recommend what they see fit, we need to take a look at the bigger picture and make sure we deliver what is right for the people of Clydebank."

WDC was unavailable for comment.

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This article appeared in Clydebank Post 28 Apr 10

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