Aberdeen leaders will attempt to help woo buyers for the city’s flagship Marks and Spencer building by showing off major regeneration efforts.
The St Nicholas Square store is just off a stretch of Union Street currently closed for expensive upgrades designed to entice more pedestrians and cyclists to the area.
It is also just yards from what will be the eye-catching entrance to the £40 million new food and drink market – which is also in the early stages of construction.
Aberdeen City Council has now voted to provide estate agents with more information on its “masterplan” aims, in the hopes this could lure in some interested parties and give the department store a fresh lease of life.
Could city centre revamp boost future prospects for M&S building?
The latest development came after estate agents Savills met with council higher-ups behind closed doors in late April.
Information supplied will be part of a bigger marketing pack, specially prepared to show that Aberdeen is a “location for investment”.
During a recent meeting, finance chiefs explained that Savills had requested the local authority “provide additional materials which convey and promote its vision for the city centre”.
This information, it is hoped, will “enhance perceptions of the city” among national developers.
Cash convener Alex McLellan said there was a “clear course of action” on how the council could help efforts to sell the huge store.
He added: “It’s an important point of the city centre.”
The SNP member highlighted the “fantastic” difference the city centre and beach masterplan projects are making to Aberdeen.
But he ruled out the prospect of the council purchasing the decades-old M&S building as part of the regeneration crusade.
What efforts will council highlight in bid to secure interest in M&S?
It comes as the local authority is plugging millions into the redesign of Union Street, which includes widening pavements and creating a segregated bike lane.
Our Union Street, Aberdeen and Grampian Chamber of Commerce and Aberdeen Inspired will also help highlight the fortunes of the Granite Mile to potential buyers.
This additional “guidance” pack of documents will be prepared for those interested, with council leaders saying they are open to talks about possible options.
Meanwhile, they will also work with property agency Savills to identify suitable temporary uses for the building while the firm looks for any permanent takers.
So where are we with the sale now?
Marks and Spencer bosses plan to abandon the city centre store by next spring as they focus on a £15 million expansion of their Union Square branch.
The building is already up for grabs, but Savills say the sale is still in its early stages.
They add that finding a buyer could take between 12 to 18 months, going by efforts to offload similar sites across the country.
Council co-leader Ian Yuill added: “There is every interest to Marks and Spencer in finding a buyer or a tenant.
“Our staff are engaging with Marks and Spencer and their agents…
“Our role is to support them in any way we can, and once M&S find a new owner, to support a new use for that building.”
What would you like to see in the Marks and Spencer building? Let us know in our comments section below.
What could happen with the M&S building?
In their initial prospectus, the property firm says the 80,000sq ft site would be “suitable for a variety of uses” – subject to planning approval from the council.
Earlier this year, director of Tinto Architecture, Richard Tinto, suggested several possible options – all focused on bringing more people into the city centre.
These included transforming the building into a mecca for Dons fans or turning it into flats once the retail giant moves out.
Another suggestion was to use the space for a new city centre museum highlighting Aberdeen’s historic alcohol production.
In a report to councillors, senior project officer Jen Lawie says the local authority is keep to provide support in finding the best option for the Marks and Spencer building.
She adds: “Council officers and city centre partners will continue to engage with Marks and Spencer and Savills on progress of the marketing activity at six-monthly intervals.”
Read more about regeneration efforts going on in Aberdeen city centre:
- ALL available Union Street empty units listed in bid to lure new Aberdeen businesses
- ‘Biggest redevelopment in Aberdeen city centre for 200 years’ to begin this month
- All you need to know about the central Union Street closure
- Exclusive: £800k revamp of offices near new Aberdeen Market as city improvement gurus poised to move to ‘regeneration hotspot’
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