4 - Town Centre Property Fund Update (002)
Renfrewshire Council · 18 March 2025
Back to Economy and Regeneration Policy Board — 18 March 2025 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
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___________________________________________________________________ To: Economy and Regeneration Board On: 18th March 2025 ___________________________________________________________________ Report by: Chief Executive ___________________________________________________________________ Heading: Renfrewshire Town Centre Premises Fund Update ___________________________________________________________________ 1. Summary 1.1 This report provides an update to the Board on the progress of the Renfrewshire Town Centre Premises Fund, a £250,000 initiative approved on 7 November 2023 to support businesses to occupy vacant town centre properties in Renfrewshire. ___________________________________________________________________ 2. Recommendations 2.1 Board members are asked to: a) Note the contents of the report. ___________________________________________________________________ 3. Background 3.1 The Economy and Regeneration Policy Board approved the allocation of £250,000 from the Local Authority Covid Economic Recovery Fund to address the issue of vacant town centre properties in Paisley, Renfrew, Johnstone, Linwood and Erskine. 3.2 This funding initiative focuses on ground-floor properties within town centres but which are outside of established shopping centres such as the Piazza, Paisley Centre, or Braehead. 3.3 The primary goal of the Fund is to support the regeneration of town centres by reducing the number of vacant, market-ready commercial units. The grant is designed to: • Encourage businesses to occupy vacant premises, particularly those offering unique or underrepresented functions.
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• Diversify the types of businesses in Renfrewshire's town centres, attracting a range of local and visitor footfall. • Strengthen relationships between local businesses and property owners to support broader town centre development. • Contribute to the Renfrewshire Economic Strategy by encouraging new business start-ups, creating employment opportunities, and supporting sustainable and inclusive economic growth. 3.4 Eligible businesses can receive grant funding of up to £25,000 (with 50% match funding from applicant) to support either set-up costs or working capital. Eligible businesses must be planning to open their premises in Paisley, Renfrew, Johnstone, Linwood or Erskine town centres. Additionally, established local businesses currently located outside these centres may be considered for funding, provided a strong business case can be demonstrated—such as a need to move to a larger premises due to growth. 3.5 Applications for funding are subject to a business appraisal process that assesses the viability of the business, its potential for job creation, turnover growth, and alignment with net zero ambitions. The assessment also evaluates the overall impact on the town centre, including the potential to drive further footfall and investment. 3.6 Officers are working closely with local property owners and agents to promote the scheme and encourage joint investment in key properties along the main thoroughfares of each town centre. The aim is to foster a collaborative effort where property owners contribute (for example, through rent-free periods) to meet the match funding requirements alongside support from Renfrewshire Council and the new businesses. ___________________________________________________________________ 4. Positive Impacts and Outcomes 4.1 Four applications have been received and approved to date for businesses locating in Paisley and Johnstone. 4.2 Just over £60,000 has been awarded to the following businesses: • Town Centre Deli - opened in a larger property in Causeyside Street, Paisley which had been vacant for a considerable time. Relocating to a more spacious site presented a significant opportunity for the business to develop and increase capacity enabling operational growth and the creation of up to 7 new jobs. • Babywear and Haberdashery Shop: the fund has supported the creation of a new business in Houston Court, Johnstone. The establishment of the babywear and haberdashery shop has created 2 new jobs and enhanced the local retail offering. • Fruit & Vegetable Shop: A well-established fruit and veg business has relocated to a prime location within Moss Street Paisley, thereby ensuring its sustainability and providing them with growth potential. The project will secure 2 current jobs and will potentially lead to 2 new posts being created.
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• Family Law Practice: a new law practice will soon open in Gauze Street, Paisley ensuring long-term stability for the premises. It will offer the services of an experienced family law solicitor and see the creation of 2 new jobs with the potential for further growth opportunities. 4.3 The total value of these projects combined was just under £138,000, with the Town Centre Premises Fund contributing to the costs of the design and fit out of the premises, (including fixtures, fittings, lighting, and furniture), installation of CCTV, rent and equipment. 4.4 These projects not only help to breathe new life into vacant properties but also contribute to a more vibrant and diverse retail and service offering in Renfrewshire's town centres. ___________________________________________________________________ 5. Conclusion 5.1 The Town Centre Premises Fund continues to make a positive impact on the regeneration of Renfrewshire’s town centres. Looking ahead, the Fund will continue to support the economic growth of Renfrewshire by promoting sustainable and inclusive regeneration, while fostering greater collaboration between businesses, property owners, and the Council. _________________________________________________________________ Implications of the Report 1. Financial – No additional funding is sought. All funding is accounted for within existing Council budgets and external funding. 2. HR & Organisational Development – no impact 3. Community/Council Planning –none 4. Legal – None. 5. Property/Assets – None. 6. Information Technology – None. 7. Equality & Human Rights The Recommendations contained within this report have been assessed in relation to their impact on equalities and human rights. No negative impacts on equality groups or potential for infringement of individuals’ human rights have been identified arising from the recommendations contained in the report. 8. Health & Safety – None. 9. Procurement – None. 10. Risk – None. 11. Privacy Impact - None.
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12. Childrens Rights - None 13. COSLA Policy Position – Not Applicable. 14. Climate Risk – Not Applicable. __________________________________________________________________ List of Background Papers Economy and Regeneration Policy Board, 7th November 2023 “Town Centre Vacancy Taskforce – Vacant Shops Grant Scheme” ___________________________________________________________________ CS 20/02/2025 Author: Colette Saez, Assistant Economic Development Manager; Email: colette.saez@renfrewshire.gov.uk