Poundland’s project to bring new Elgin High Street flats to the market as part of their redevelopment has been backed as a template for the rest of the area.
The retailer was forced to completely demolish and rebuild after water leaks brought it to the brink of collapse.
As well as an extensively refurbished Poundland store, the restored building also includes four new flats above the shop.
Before the refurbishment the upper floors were abandoned and their collapse is understood to have sparked the restoration project.
Two of the properties have already hit the market with “really good interest” in the unique Poundland flats.
Now the project has been backed by the retailer’s Elgin manager as a template that could be replicated.
‘More flats could boost whole of Elgin High Street’
Poundland’s Elgin manager Gerry McAloon is a High Street veteran of more than 30 years. He previously led the local Woolworths from 1993 until its closure in 2008.
The retailer welcomed customers back to the firm’s refurbished home at the weekend following more than six years of restoration works.
While admitting not every High Street building needs to go to the extent of being completely demolished before being rebuilt, Mr McAloon backed the drive to convert upper floors into more flats as a way to revitalise the town centre and boost businesses.
He said: “My wish would be that all the retailers and property owners do something similar, and this type of development is extended through the whole High Street.
“It’s a win-win for everyone.
“Having people living right here in the town centre would benefit the pubs and restaurants we have here, and the retailers too.
“For me, that would be absolutely fantastic. It would help make our High Street more vibrant, which would be a huge boost for the town’s economy.”
Strong interest in new Poundland flats
Two of the four Poundland flats have hit the market this month.
A one-bedroom apartment is for sale for offers over £85,000. A larger two-bedroom property is valued at £105,000.
Town centre apartments are traditionally popular with workers staying in the region for short periods or young people who are new to the area.
Estate agent Alasdair Millar, who is marketing the property for Elgin-based Belvoir, said: “There’s been good interest in them, really good interest actually.
“I thought it would be pretty much just investors who would be interested to market them as rentals, but there’s been interest in people wanting to live in them too.
“The fact that it is brand new has definitely been an attraction.
“There are a lot of properties already on the High Street, some of them are really very nice, but there’s always that worry about having a roof that’s potentially 140 years old.
“There’s obviously no worry about that at Poundland. They’re not over-priced either. Some people might prefer parking, but other people don’t need that.
“It’s a cracking view too, especially now with the Christmas decorations. I was showing it to a lady this week and we both agreed there’s so much potential in the town centre.”
Drive to have more people living in heart of Elgin
Poundland is not alone in redeveloping buildings to create more flats and living accommodation in Elgin.
Work is already ongoing above Ca’Dora to convert a former maisonette flat into five bedrooms with ensuite bathrooms and a shared kitchen.
And Moray Council and partners Robertson are preparing to begin work on South Street. It will bring the former Junners toy shop back into use as smaller retail units and a UHI Moray business hub.
Meanwhile, the area behind the buildings currently occupied by the former Jailhouse nightclub will be redeveloped into 38 flats.
Conversation