Printer Friendly

Record Business: Flats back in business; JOHN McEACHRAN reports on the new trend to turn city centre offices back into living quarters.

Byline: JOHN McEACHRAN

DEVELOPERS are helping to breathe new life into city centres by turning offices back into living accommodation.

The creation of residential properties in classic old buildings reverses the trend of the last 20 years.

Georgian townhouses in the New Town area of Edinburgh have long been popular for small to medium sized offices and have become a key feature of the city's commercial heart.

It is in these buildings that prestige accommodation has been secured for solicitors, finance houses and estate agents.

But now the tide is turning the other way and developers who have already converted some of Edinburgh's townhouses back into residential use are turning their eyes towards offices in what were once flats above shops in the main retails streets.

They are also looking west towards Glasgow. Lindsay Crawford of Grovemoor Developments said: "The marked swing of townhouse offices being converted back to houses and flats has now evolved further.

"We are identifying suitable properties above retail operations in city centres for reconversion to flats.

"The main benefit to the buyer once the conversion has been made is a prestigious central address and because of that a potentially sound investment. The downside is maybe having to commute to work on the edge of town - although at least this will be against the traffic."

Grovemoor converted three flats above the Starbucks coffee shop in George Street, Edinburgh - one of busiest retail centres in the city centre - into flats.

Two have already been sold and the developer is looking to buy similar types of property in the city centre for the same treatment.

Mr Crawford added: "Grovemoor are also actively looking for suitable property in Glasgow."

Edinburgh's drift towards city centre accommodation has been fuelled by a series of factors which have resulted in many businesses moving to business parks on the outskirts of town.

The demands of modern technology are often difficult to meet in listed buildings which can be difficult and expensive to adapt.

Meanwhile, bigger businesses have been gravitating to new purpose-designed buildings.

Mergers of banks, building societies and travel agents, have played their part, too, in creating new opportunities for conversion of properties.

There's life after shopping

THE boom in city centre homes is the latest in a series of people-friendly changes to city centres.

A new style of outlet, such as Cafe Rouge and All Bar One, have transformed city streets where once the only attraction after shops closed were the retail windows.

The transformation has continued with the arrival of the likes of Costa Coffee and Starbucks.

City centre sites for Tesco and Sainsbury's are helping, too.

It is a symptom of the new fashion of city centre living. Now there are new attractions to ensure that the bustle of city life doesn't evaporate when it's time for shopkeepers to draw down the shutters.
COPYRIGHT 2001 Scottish Daily Record & Sunday
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:Business
Publication:Daily Record (Glasgow, Scotland)
Date:Jun 4, 2001
Words:474
Previous Article:TENNIS : IT'S NOT THE FINAL KUERTEN JUST YET; Gutsy Gustavo's just Braziliant as he battles back from the brink.
Next Article:VOICE OF SCOTLAND; Private health care plan is ill conceived.


Related Articles
University challenge; The most exciting architectural project to hit Paisley in years aims to stimulate new business in the town, writes JOHN...
Reversals in fortune; After job losses and closures Edinburgh's Newbridge is on the up.
Looking good for the future; New premises and a new name is all part of the master plan for one Glasgow company, writes JOHN McEACHRAN.
Countdown to a new space race.
RECORD BUSINESS; An Ayr for new skills.
Business: Clyde revival goes up a gear.
Business: Clyde built to prosper.
Ambitious plans for city east end; An new pounds 14m development will help revitalise a neglected area of a Scots city, writes JOHNMcEACHRAN.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters