One of Perth’s most high profile empty buildings is in line for a £1 million-plus investment.
The Clydesdale Bank relocated from their South Methven Street base to the High Street more than two years ago.
Their former city HQ has has lain empty ever since, joining the adjacent St Paul’s Church and former Clachan Bar and Quality Cafe buildings opposite in a triangle of dereliction.
Earlier this week, Perth and Kinross Council unveiled ambitious plans to buy and convert the church into a new public space.
Now an experienced local commercial property developer is providing the Fair City with early Christmas cheer, pressing ahead with the biggest private sector investment in the city centre since the economic crash of 2008.
Businessman Brian Blair’s Verimac Ltd has acquired the building and the company unveiled their plans for the former bank headquarters.
The building offers around 10,000 square feet of floorspace and 16 parking places and the company plans to develop the building into four separate units.
Two large ones will be for let while solicitors McCash and Hunter will continue to operate the ground floor property shop and retain their first floor offices.
High-end office accommodation will form part of the project and before the end of the month the paperwork will be completed on a contract which will see an expanding local business assume occupancy of part of the building.
The investment is good news for a city centre which has been reeling from the loss of McEwens of Perth and other retail units this year.
A company spokesman said: “Work will commence on January 9 and we are using local contractors. Hopefully this is an indication that the economic tide is beginning to turn.
“The bank building has been one of several high profile properties in the central area which have lain unoccupied for a number of years. As with all empty buildings it was in danger of becoming something of an eyesore.
“But coming hard on the heels of this week’s announcement that the local authority wants to seize the nettle over St Paul’s Church, coming forward with proposals for an outdoor civic space, this project will help breathe new life into this part of the city centre.
“We are delighted to have already secured a tenant for one of the large units to let and we are investing in state of the art office space.”
The Verimac Ltd spokesman said Perth and Kinross Council had been very supportive of the South Methven Street project.
He said: “We have been working on these proposals for the past year and have enjoyed welcome input from the council’s head of planning, David Littlejohn, and vacant property development officer, Isobel Butt, who has been tasked with encouraging commercial and residential projects within the city centre.
“We are now ready to press ahead with the development early in the New Year.”
