Local businessman Graeme Mackenzie knows first-hand the challenges of selling a large Elgin town centre commercial unit.
In recent years, efforts to fill smaller vacancies have been successful but the big empty units have proved more difficult to shift.
The popular Junners toyshop closed down in January 2016 after 116 years of trading.
Since then, Mr MacKenzie has been determined to sell the large C-listed property, once the entrance to Elgin’s Victorian market.
Late March this year, the building was finally sold to Robertson Property Limited who are overseeing a mixed-use South Street development.
This comes after previous efforts to sell the shop were unsuccessful.
Now Graeme has opened up on the eventful journey.
Graeme said: “Unfortunately the size of the retail unit was what was making it more difficult to sell.
“In the last few years, smaller units for people to start up businesses have been much more appearing.
“I have seen this first hand as I have several smaller properties at Harrow Close with tenants operating in them.”
He did considered subdividing the ground floor area of Junners into small shop units with separate storage for each unit in the basement.
There would also have been a cafe and play area for kids on the mezzanine floor area.
Looking back, Graeme says he is glad he didn’t proceed with the plans as Covid struck.
And he believes the shop would have lain vacant for a further two years having invested more money to make it more marketable.
How Brexit stopped a 24-hour gym moving into Junners
Graeme also revealed he was in the final stage of agreeing a deal with Inverness based Forge Gym before they pulled out “due to Brexit”.
He explained: “I almost had a deal completed with Forge Gym to open up a 24-hr gym.
“It was almost about to go to planning.
“Brexit came along and the guy’s funders pulled the plug on it.”
He also tried to pitched the property to the UK’s largest independent toy retailer The Entertainer.
However, he received no follow up.
How did the South Street development come along?
After previous attempts to sell the South Street building were unsuccessful, Graeme thought of another possibility.
He decided to approached the owners of buildings such as Jailhouse, 51 South Street and the Newmarket bar with the idea of putting the whole area on the market as a major development opportunity.
Graeme explained: “I thought this area needed redeveloped, so I went to all the owners to discuss about getting market surveyors to price all our properties.
“Then, we would put it as a whole on the market as a development area and split the money between owners based on the value of our properties.
“I had some help from Elgin BID’s Gill Neil at the time. However, we couldn’t get them to all agree.”
Therefore in 2018, he approached developers himself with the concept.
Graeme added: “I went to many developers including one in Edinburgh.
“However most thought it wasn’t viable.
“I ended up speaking to Robertson’s Kathleen MacKintosh and Colin Souter and they were the only people interested with the idea.
“After our talks, they went away to explore the concept and discovered funding was available.
“They progressed the idea.”
What is happening now?
In December, Moray Council, development partners Robertson Property Limited (RPL) and UHI Moray revealed the plans.
They include the redevelopment of the former Junners toy shop, the Newmarket Bar and the Jailhouse nightclub.
The Moray Growth Deal is supporting elements of the project, while £18.3m Levelling Up Fund cash will also contribute.
Homes, a business enterprise hub for new and growing businesses and additional units for shops were included as part of the vision.
In February, architects Oberlanders lodged the proposals on behalf of RPL to planning officials which will include a business hub, three retail units, 38 flats across five blocks and a courtyard.
In May, councillors on the planning committee gave the South Street development the go-ahead.
Mr MacKenzie added: “This shows good investment with three shops, flats and a business enterprise hub.
“I’m passionate about the town and glad to see it is going ahead.
“It was a great idea, but in this economic climate, it wouldn’t have got off the ground without the interval funding.”
Read more from Elgin town centre:
- The businessman who took on Batchen Street’s biggest building – and his thoughts on the future of Elgin
- 19 Crepes and Coffee: Meet the Romanian couple who ploughed all their savings into this Elgin business
- Elgin Club: See inside Elgin town centre building which once operated as a gentlemen’s club as it hits the market
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