Vennel ‘stuck in limbo’ amid ‘prohibitive’ renewal costs
Plans to replace a controversial 1960s West Lothian town centre development with a new hotel and shopping or arts centre may never happen because the costs could be prohibitive.
Plans for the future redevelopment of the award-winning 1960s mix of flats and retail space have been formulated for years, largely by interested groups in Linlithgow. The Brutalist architecture has few fans.
Blue sky plans in the past had suggested massive redevelopment of the Linlithgow site, with proposals including a hotel and new shopping facilities to an arts centre overlooking the loch.
Councillors on West Lothian’s Executive have heard that the cost of “transformative redevelopment” was unlikely however, given a valuation of the site owned by the council – including a car park which nets the council around £100,000 a year.
Selling the car park would give away an income-generating asset and lose control of the largest part of the site.
David Baird, the council’s property services manager, told the meeting: “In light of the valuation report received, it is evident that the transformative redevelopment sought for The Vennel may not be achievable.
“In order to determine this, a formal marketing exercise will be undertaken and the results of this will be reported back to Council Executive following the summer recess.”
A report to the committee concluded that “due to the specific constraints of the site, market conditions and the existing tenancies in place, if the plots were to be openly marketed the market value of each plot would be reflective of its existing use rather than any potential higher value attributed to re-development.”
The council signed a lease with Horizon parking to manage the Vennel car park in 2019. That 10-year lease brings the council an annual rental income of £93,000 a year – plus 50 per cent of the tariff income over £250,000.
Mr Baird’s report detailed: “The car park is leased to a third party and generates a reliable fixed term annual income to the council, as such any redevelopment value of the car park would have to exceed the current value as a car park. The cost of clearing the site would be prohibitive to development, and developers are facing challenges around building materials inflation, labour market constraints and the cost of living crisis.”