Investment boost for Saltmarket shopowners

Glasgow City Council has furthered its commitment to regeneration in the city centre with a pilot support scheme for tenants and owners of shops on Saltmarket and St. Andrew’s Street.

Cllr Gordon Matheson, Leader of Glasgow City Council, launched the Independent Retail Fund (IRF), which will give proprietors access to the financial resources they need to assist with necessary repairs and upkeep of their premises.

The fund recognises the impact that well-maintained shop fronts can have in helping local areas thrive. It is hoped these improvements will enhance the appeal of the Saltmarket to visitors, customers and local residents and in turn lead to further investment in the area.

Cllr Matheson said:” Glasgow is the top retail destination in the United Kingdom outside of London and the council is committed to investing in local businesses.

“Saltmarket is one of the oldest parts of the city with its own distinct character. It is important that we continue the regeneration that has already taken place here.

“I am pleased to announce the launch of this pilot project as we look to assess new opportunities to make Glasgow the most innovative and progressive city centre in Europe.”

The IRF Pilot will be undertaken in partnership with City Property (Glasgow) LLP and Ryden Ltd. They will work with owners and tenants to cost, schedule, monitor and manage improvement works.

Pauline Barclay, Interim Managing Director of City Property, said:” We are very pleased for this opportunity to work with the fantastic range of businesses in this part of Glasgow.

“City Property will provide direct support for participants in the IRF pilot throughout the whole process, and from outlining costs to managing works.”

The decision to pilot the scheme along Saltmarket and St. Andrew’s Street was made in order to continue the council’s support of the many independent retailers in the area, as well as to encourage potential new businesses. It will be made available to those who have already participated in the first phase of the Glasgow Housing Association (GHA) Regeneration programme, which has seen tenement buildings in the area restored.

The IRF (Pilot) will be evaluated in terms of its economic and social impact in the area and how this could possibly be replicated in other areas of the City centre.

Further details of the scheme along with information on how to apply can be found here > Independent Retail Fund

City Property (Glasgow) LLP
Telephone: 0141 270 3111