Agenda Document Pack - Economy and Regeneration Policy Board - 04/11/2025
Renfrewshire Council · 4 November 2025
Back to Economy and Regeneration Policy Board — 4 November 2025 and its agenda
Text extracted from the council's PDF. Layout and reading order may differ from the original.
Some pages contain no extractable text. They may be blank, graphics or scanned pages. OCR has not been applied.
Page 1
27/10/2025 Notice of Meeting and Agenda Economy and Regeneration Policy Board Date Time Venue Tuesday, 04 November 2025 10:00 Council Chambers (Renfrewshire), Council Headquarters, Renfrewshire House, Cotton Street, Paisley, PA1 1AN Membership Councillor Andy Steel (Convener): Councillor Michelle Campbell (Depute Convener): Councillor Alison Ann-Dowling: Councillor Stephen Burns: Councillor Graeme Clark: Councillor Andy Doig: Councillor Neill Graham: Councillor Robert Innes: Councillor Janis McDonald: Councillor Marie McGurk: Councillor Iain McMillan: Councillor John McNaughtan: Councillor Sam Mullin: Councillor Iain Nicolson: Councillor Jim Paterson: Further Information This is a meeting which is open to members of the public. A copy of the agenda and reports for this meeting will be available for inspection prior to the meeting at the Customer Service Centre, Renfrewshire House, Cotton Street, Paisley and online at http://renfrewshire.cmis.uk.com/renfrewshire/CouncilandBoards.aspx For further information, please email democratic-services@renfrewshire.gov.uk Members of the Press and Public Members of the press and public wishing to attend the meeting should report to the customer service centre where they will be met and directed to the meeting. Hybrid Meeting Please note that this meeting is scheduled to be held in the Council Chambers. However, it is a hybrid meeting and arrangements have been made for members to join the meeting remotely should they wish. MARK CONAGHAN Head of Corporate Governance
Page 2
27/10/2025 Webcasting of Meeting This meeting will be filmed for live or subsequent broadcast via the Council’s internet site – at the start of the meeting the Convener will confirm if all or part of the meeting is being filmed. To find the webcast please navigate to https://renfrewshire.public-i.tv/core/portal/home
Page 3
27/10/2025 Items of business Apologies Apologies from members. Declarations of Interest and Transparency Statements Members are asked to declare an interest or make a transparency statement in any item(s) on the agenda and to provide a brief explanation of the nature of the interest or the transparency statement. 1 Revenue and Capital Budget Monitoring 2025/26 as at 19 September 2025 Joint report by the Chief Executive and Director of Finance & Resources. 1 - 8 2 Scotland Loves Local Update 4 Report by Chief Executive. 9 - 18 3 Net Zero Business Support and Grants Report by Chief Executive. 19 - 24 4 Paisley Centre Redevelopment - Update Report by Chief Executive. 25 - 30
Page 4
No embedded text on this page.
Page 5
PUBLIC ___________________________________________________________________ To: Economy and Regeneration Policy Board On: 4 November 2025 ___________________________________________________________________ Report by: Chief Executive and Director of Finance and Resources ___________________________________________________________________ Heading: Revenue and Capital Budget Monitoring 2025/26 as at 19 September 2025 ___________________________________________________________________ 1. Summary 1.1 At the close of reporting Period 6 on 19 September 2025, the projected revenue outturn at 31 March 2026 for those services reporting to the Economy and Regeneration Policy Board was an underspend position of £0.022m (0.7%) against the revised budget for the year. 1.2 The projected capital outturn at 31 March 2026 for projects reporting to the Economy and Regeneration Policy Board is a break even position. 1.3 This is summarised in the table below and further analysis is provided in the report and appendices. Revised Annual Budget £000 Projected Outturn £000 Budget Variance (Adv)/Fav £000 Budget Variance % Revenue Economy and Development 3,173 3,150 22 0.7% Capital Economy and Development 18,850 18,850 0 0.0% 2. Recommendations 2.1 Members are requested to: a) Note the projected Revenue outturn underspend position of £0.022m; b) Note the projected Capital outturn break-even position; and Item 1 EAR041125 Page 1 of 30
Page 6
PUBLIC c) Note the budget adjustment detailed at section 6.3. 3. Revenue Budget Projection – underspend of £0.022m by 31 March 2026 3.1 The tables in Appendix 1 present the projected year-end position for all services reporting to this board, by both subjective analysis (what the budget is spent on) and objective analysis (which division is spending the budget). Significant variances affecting the projected position are analysed further below. 3.2 It should be noted that the projected outturn position reported here is based on the latest information available, which is subject to change during the financial year. The impact of any change on this projection will be updated at each board cycle until the close of reporting Period 10. 4. Objective Analysis – Significant Variances 4.1 There are no significant objective analysis variances to report at this stage in the financial year. 5. Subjective Analysis – Significant Variances 5.1 There are no significant subjective analysis variances to report at this stage in the financial year. 6. Revenue Budget Virements 6.1. Under the Council’s financial regulations, Directors and their nominated officers, in consultation with the Director of Finance and Resources, have certain delegated authority to transfer sums between subjective budget headings within a service division to enable budget management throughout the financial year. This is known as ‘budget virement’. 6.2. Transfers between divisions of the same service / department in excess of £100,000, and transfers between services / departments must be authorised by the respective service Director/Chief Executive and the Director of Finance and Resources for submission to the relevant policy board for approval. Future reports may therefore ask the board to approve budget adjustments that are deemed necessary for good budget management. 6.3. The budget adjustments processed since the previous report to board reflect the allocation of centrally held budgets already approved, together with the Council’s share of a Scottish Government funding allocation for Page 2 of 30
Page 7
PUBLIC Employability Child Poverty Co-ordinators. This represents new funding and is therefore for noting only. Revenue Budget Adjustments Objective Heading Subjective Heading Amount (£m) Reason Economy and Development Transfer Payments 0.078 Renfrewshire Council’s share of the Scottish Government allocation for Employability Child Poverty Co-ordinators 7. Capital Budget Projection – break even position by 31 March 2026 7.1 The approved Capital Investment Programme 2025/26 to 2029/30 for Economy and Regeneration was £14.683m. The revised capital spend for 2025/26 is £18.850m. 7.2 The in-year Capital budget is forecast to break even by 31 March 2026 after a number of budget adjustments between years have taken place, to reflect revised programming of some capital projects. Details of these adjustments, which amount to £4.167m are as follows: Project Amount (£m) Budget brought forward into 2025/26 - updated cashflows Place Based Investment Fund (0.723) Budget Increases in 2025/26 Paisley Museum (approved Council meeting 25 September 2025) 4.500 Castle Semple Visitor Centre Improvements (grant award) 0.240 Newton Road Playing Field (s75 contribution) 0.100 Retail Improvement Fund 0.050 Total 4.167 Page 3 of 30
Page 8
PUBLIC Implications of the Report 1. Financial The projected budget outturn position for Finance, Resources and Customer Services’ Revenue budget is an underspend of £0.022m (0.7%) at 31 March 2026. Income and expenditure will continue to be monitored closely for the rest of the financial year and as far as possible, steps will be taken to mitigate any overspend. The projected outturn position for the Economy and Regeneration Capital budget is break-even, after the adjustments outlined at section 7. 2. HR & Organisational Development While staffing budgets form a significant proportion of the Council’s revenue budgets, there are no direct implications arising from the recommendations in this report. 3. Community/Council Planning Community Plan Our Renfrewshire is thriving The Council’s revenue and capital spend ensures that its facilities are fit for purpose and safe for the community, to maximise accessibility. Our Renfrewshire is well Our Renfrewshire is fair Our Renfrewshire is safe Council Plan Reshaping our place, our economy and our future The Council’s revenue and capital spend ensures that its facilities are fit for purpose and safe for the community, to maximise accessibility. Building strong, safe and resilient communities Tackling inequality, ensuring opportunities for all Creating a sustainable Renfrewshire for all to enjoy Ongoing revenue and capital budget monitoring is a tool to enable good financial management so that the Council has resources now and in the future for continued service delivery. Working together to improve outcomes 4. Legal There are no direct implications arising from the recommendations in this report. Page 4 of 30
Page 9
PUBLIC 5. Property/Assets The capital expenditure noted in this report will result in improvements to Culture and Heritage assets and delivery of strategic place-shaping and regeneration. 6. Information Technology There are no direct implications arising from the recommendations in this report. 7. Equality & Human Rights While new areas of spend may impact on particular groups, any such impact would be assessed prior to the spend being incurred, therefore there are no direct implications arising from the recommendations in this report. 8. Health & Safety There are no direct implications arising from the recommendations in this report. 9. Procurement While Procurement is an important consideration prior to the Council incurring any revenue or capital spend, there are no direct implications arising from the recommendations in this report. 10. Risk The potential financial risk that the Council will overspend its approved revenue budgets for the year is managed at a Council-wide level by the Chief Executive and Directors. 11. Privacy Impact There are no direct implications arising from the recommendations in this report. 12. Cosla Policy Position N/a 13. Climate Change The Council aims to reduce its carbon and other emissions to net zero by 2030, however there are no direct implications arising from the recommendations in this report. Page 5 of 30
Page 10
PUBLIC 14. Children’s Rights There are no direct implications arising from the recommendations in this report. List of Background Papers • Revenue Budget and Council Tax 2025/26, Council 27 February 2025 • The Capital Investment Programme 2025/26 to 2029/30, Council 27 February 2025 Author: Valerie Howie, Finance Business Partner; and Linsey McGregor, Capital Accountant. Page 6 of 30
Page 11
PUBLIC Appendix 1 RENFREWSHIRE COUNCIL REVENUE BUDGET MONITORING STATEMENT 2025/26 1 April 2025 to 19 September 2025 POLICY BOARD: ECONOMY AND REGENERATION Objective Summary Approved Annual Budget Budget Adjustments Revised Annual Budget at Period 3 Projected Outturn Budget Variance (Adverse) or Favourable Previous Projected Outturn Variance Movement £000 £000 £000 £000 £000 % £000 £000 Economy and Regeneration Management 100 13 113 112 1 0.9% 2 (1) Economic Development 1,160 120 1,280 1,280 0 0.0% 0 0 Regeneration 1,740 39 1,779 1,758 21 1.2% 16 5 NET EXPENDITURE 3,000 172 3,172 3,150 22 0.7% 18 4 Subjective Summary Approved Annual Budget Budget Adjustments Revised Annual Budget at Period 3 Projected Outturn Budget Variance (Adverse) or Favourable Previous Projected Outturn Variance Movement £000 £000 £000 £000 £000 % £000 £000 Employees 4,787 94 4,881 4,859 22 0.5% 18 4 Premises Related 57 0 57 57 0 0.0% 0 0 Transport Related 3 0 3 4 (1) (33.3%) 0 (1) Supplies and Services 105 (23) 82 81 1 1.2% 0 1 Third Party Payments 0 0 0 0 0 0.0% 0 0 Transfer Payments 1,509 101 1,610 1,610 0 0.0% 0 0 Support Services 26 0 26 26 0 0.0% 0 0 Depreciation and Impairment Losses 630 0 630 630 0 0.0% 0 0 GROSS EXPENDITURE 7,117 172 7,289 7,267 22 0.3% 18 4 Income (4,117) 0 (4,117) (4,117) 0 0.0% 0 0 NET EXPENDITURE 3,000 172 3,172 3,150 22 0.7% 18 4 Page 7 of 30
Page 12
PUBLIC Appendix 2 Prior Years Approved Budget Revised Projected Expenditure Budget Adjustments Budget Outturn Total Approved Projected Project Title to 31/03/2025 2025-26 since previous 2025-26 2025-26 Budget Outurn Board report to 31-Mar-30 to 31-Mar-30 £000 £000 £000 £000 £000 £000 £000 ECONOMY & DEVELOPMENT Paisley Museum 50,420 9,361 4,500 13,861 13,861 0 0% 68,641 68,641 0 0% Place Based Investment Fund 2,150 1,830 (723) 1,107 1,107 0 0% 3,980 3,980 0 0% Town Centre Capital Fund 771 105 0 105 105 0 0% 876 876 0 0% Town Centre Regeneration 105 645 0 645 645 0 0% 2,550 2,550 0 0% Retail Improvement Scheme 13 57 50 107 107 0 0% 120 120 0 0% Shared Prosperity Fund 0 482 0 482 482 0 0% 482 482 0 0% West Tandlemuir 179 61 0 61 61 0 0% 240 240 0 0% Oakshaw Public Realm Works 0 30 0 30 30 0 0% 30 30 0 0% Ferguslie Belltrees 0 650 0 650 650 0 0% 650 650 0 0% Newton Road Playing Field 0 0 100 100 100 0 0% 100 100 0 0% Castle Semple Visitor Centre Improvements 0 0 240 240 240 0 0% 240 240 0 0% Paisley Art Centre Redevelopment 3,730 20 0 20 20 0 0% 3,750 3,750 0 0% Paisley Town Hall Redevelopment 25,034 231 0 231 231 0 0% 25,265 25,265 0 0% Paisley Learning & Cultural Hub 6,716 284 0 284 284 0 0% 7,000 7,000 0 0% Paisley Junctions and Charging Hub 763 209 0 209 209 0 0% 972 972 0 0% Sports Development - St James Playing Fields Redevelopment 3,111 388 0 388 388 0 0% 3,500 3,500 0 0% Sports Development - Ferguslie Pavillion Upgrade 719 273 0 273 273 0 0% 992 992 0 0% Sports Development - Hockey Pitch at On-X 557 43 0 43 43 0 0% 600 600 0 0% Townscape Heritage CARS 2 4,085 14 0 14 14 0 0% 4,099 4,099 0 0% Total Economy & Development 98,353 14,683 4,167 18,850 18,850 0 0% 124,087 124,087 0 0% TOTAL ECONOMY & DEVELOPMENT 98,353 14,683 4,167 18,850 18,850 0 0% 124,087 124,087 0 0% *Rolling programmes have a prior year year expenditure of £0 as the expenditure is not directly linked from one year to the next as a singular project. RENFREWSHIRE COUNCIL CAPITAL INVESTMENT STRATEGY - NON-HOUSING SERVICES 1st April to 19th September 2025 POLICY BOARD: ECONOMY & REGENERATION Current Year 2025-26 Full Programme - All years Budget Variance (Adverse) or Favourable Budget Variance (Adverse) or Favourable Page 8 of 30
Page 13
Page 1 of 10 OFFICIAL ___________________________________________________________________ To: Economy and Regeneration Policy Board On: 04 November 2025 ___________________________________________________________________ Report by: Chief Executive ___________________________________________________________________ Heading: Scotland Loves Local Update 4 ___________________________________________________________________ 1. Summary 1.1 The purpose of this report is to provide an updated overview of the Scotland Loves Local scheme and its associated gift card in Renfrewshire. It outlines current levels of take-up and spend to date and summarises recent marketing activities undertaken to promote the scheme. The report also sets out future potential partnerships that could significantly enhance its uptake. ___________________________________________________________________ 2. Recommendations 2.1 It is recommended that the Board: (i) Notes the content of this report; (ii) Authorises the Head of Economy and Development to continue the scheme until May 2028. _________________________________________________________ 3. Background 3.1 The Scotland Loves Local campaign is a national initiative aimed at encouraging people across Scotland to think local and spend local. It has the potential to boost local economies by fostering a thriving circular economy, where residents support local businesses and help keep money circulating within their communities for longer. 3.2 Like any gift card, users can choose the amount to load onto the card, which can then be spent at participating businesses within the relevant local authority area. Item 2 EAR041125 Page 9 of 30
Page 14
Page 2 of 10 OFFICIAL _________________________________________________________ 4. Scotland Loves Local Objectives 4.1 Scotland Loves Local was launched in 2021 to support the economic recovery of town centres following the COVID-19 pandemic. The programme is championed by Scotland’s Towns Partnership (the body with responsibility for overseeing Scotland’s Business Improvement Districts), with Miconex responsible for administering the scheme. 4.2 Initially, some councils used funding from the Scottish Government’s Local Authority COVID-19 Economic Recovery (LACER) scheme to top up Scotland Loves Local gift cards. Residents were then able to use the cards for everyday purchases, such as essential food and household items. The primary aim was to help alleviate cost-of-living pressures. As such, a decision was made to include larger retailers—such as supermarkets—as eligible participants in the scheme. Consequently, the majority of recorded spend across Scotland has occurred at larger multi- and cross-national businesses. _________________________________________________________ 5. Renfrewshire Context 5.1 The Renfrewshire Gift Card has been operating for several years. Council officers have been working with Miconex to grow the scheme in a way that benefits the local economy. 5.2 A framework of objectives was agreed at the Economy and Regeneration Policy Board meeting on 7 November 2023 to ensure that Scotland Loves Local is effectively aligned with the Council’s strategic policy goals—to create a thriving network of town and village centres, underpinned by inclusive and sustainable economic growth. 5.3 The following objectives were agreed: • Increase the amount spent on the card by at least 150% over the next two years. • Sign up an additional 30 SMEs to the scheme over the next two years. • Increase the proportion of money spent in SMEs by between 5% and 10% over the next two years to achieve a more equitable distribution of card revenue. 5.4 In the Board update of November 2023, it was noted that a total of £44,610 of gift card sales were achieved through the Scotland Loves Local scheme in Renfrewshire. As of 1 October 2025, this figure has increased to £82,295, reflecting a growth of 84% in spend. 5.5 Year on year gift card sales in Renfrewshire to date are as follows: Page 10 of 30
Page 15
Page 3 of 10 OFFICIAL 5.6 Currently, 138 individual businesses are signed up to the scheme in Renfrewshire - a full list is available in Appendix A. Most registrations are either within the Paisley First Business Improvement District or are large multi- national retailers. This figure has remained relatively static for over two years, accounting for both business closures and new entries. 5.7 As of 1 October 2023 there were 79 SMEs signed up to scheme. There are currently 82 SMEs participating in the scheme as 1 October 2025, accounting for approximately 16% of total spend in 2024 and 32% so far in 2025, representing a 16% proportional increase over the last year. 5.8 Paisley First has been supportive of the initiative, promoting it through its channels. Additionally, the Renfrewshire Gift Card website features a dedicated page highlighting retailers in Paisley and its diverse offering: https://townandcitygiftcards.com/paisley/ 5.9 While not all objectives have been met to date, the following sections of this report highlight significant marketing activity underway, as well as promising potential partnerships. 5.10 We will continue to work with the Council’s partner Miconex to improve data monitoring, enabling a better understanding of long-term trends and the overall impact of the Gift Card in Renfrewshire. _________________________________________________________ 6. Associated Marketing and Communications Plan 6.1 Marketing activity for the gift card scheme is focussed on increasing product awareness among potential consumers. It is promoted year-round on the council’s core and destination websites, with links to the Town and City Giftcards website where consumers can then purchase the cards, together with general ‘spend local’ messaging highlighting the importance to local economies of local spend. 6.2 The giftcard is also promoted year-round with advertising in the local MILL Magazine lifestyle publication (print and digital) through a new marketing arrangement created this year. Digital and social media advertising is concentrated in August, to amplify Scotland’s Towns Partnership national ‘Scotland Loves Local month’. Point-of-sale materials paid for by the council are distributed to participating retailers. PR activity is led by Scotland’s Towns Partnership, with the council team working alongside their media partners to ensure Renfrewshire businesses are featured wherever possible – for example, a photocall with Summits Outdoors, a local independent retailer, was organised to promote Renfrewshire’s new digital giftcard. 2022 £38,275 2023 £9,545 2024 £21,475 2025 £13,000 Total £82,295 Page 11 of 30
Page 16
Page 4 of 10 OFFICIAL 6.3 The giftcard is also promoted in conjunction with the council’s major events programme – for example, a marketing promotion with Go Radio gave listeners the chance to win pre-loaded giftcards and spend local this Halloween, with on-air read-outs for the competition providing significant opportunities for local people to see and hear about the giftcard scheme. _________________________________________________________ 7. Future developments and partnerships 7.1 Since August 2025, the Renfrewshire Gift Card can now be sent and used digitally. This new option enables recipients to spend the gift card using the “tap to pay” function via their phone’s digital wallet. The added capability is expected to increase the card’s appeal among younger users who prefer the convenience of digital payments. Corporate customers will also find this a more attractive option, as it simplifies the distribution process—allowing gift cards to be sent directly to staff via email. 7.2 Officers are currently in discussions with the owners of Braehead Shopping Centre regarding the potential installation of a kiosk within the centre. This would allow visitors to easily purchase and load a Renfrewshire Gift Card. If agreed, officers hope that the kiosk—supported by Braehead’s high footfall (approx. 16 million annually)—will significantly boost uptake of the gift card. This could benefit retailers across Renfrewshire, as consumers can spend the card in towns and villages throughout the area resulting in significantly higher annual local spend. This approach has been successfully adopted by other local authorities, such as Glasgow and Aberdeen, who have used shopping centres as catalysts to increase overall usage and spending across their wider regions. 7.3 Officers are also in discussions with X-Site who are interested in exploring participation with the gift card. X-Site are aiming to open the largest e-karting track globally in 2026. 7.4 Officers are also in discussions with OneRen about enabling the Gift Card to be used for accessing their services as well as general promotion of the scheme in central venues, for example Paisley Library and Renfrew/Johnstone Town Halls. This could potentially include booking events or gym classes, further enhancing the appeal of the card. However, further discussions and formal approval from OneRen will be required – particularly around compatibility with their existing systems, including events ticketing and membership platforms. 7.5 These partnerships have the potential to significantly impact the success of the Gift Card scheme by encouraging increased spending and attracting more businesses to sign up. _________________________________________________________ 8. Licensing 8.1 As previously reported to the Board on 23 May 2023, a licensing fee of £9,000 is paid annually to run the scheme. The annual order form was signed 24 May 2023 and was automatically extended in 2024 for another 2 years until 24 May 2026. Page 12 of 30
Page 17
Page 5 of 10 OFFICIAL 8.2 As per the terms of the license agreement, the Council have until 6 months from this date (i.e. 24 November 2025) to advise the administrator that they wish to terminate the agreement, otherwise the subscription terms will be automatically extended by a further period of 2 years. Officers are now seeking permission to use existing Council budgets to fund this scheme for a minimum of two further years from May 2026. The cost will remain at £9,000 annually and if the Council commit to another two years, the digital program will be offered free of charge - a saving of £1,800 per year, or £3,600 total over the two years. _________________________________________________________ 9. Progress and Reporting 9.1 If agreed to continue the scheme, progress will be reported to the appropriate Policy Board on a rolling basis. ___________________________________________________________________ Implications of the Report 1. Financial – No additional finance is sought. All funding is accounted for within existing Council budgets. 2. HR & Organisational Development - None 3. Community/Council Planning – Jobs and the Economy - the scheme has the potential to secure additional income for Renfrewshire based businesses, which in turn could support more investment and jobs within the local economy. 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 12. Climate Risk – Not applicable. 12. Children’s Rights – Not applicable. 13. COSLA Policy Position – Not applicable Page 13 of 30
Page 18
Page 6 of 10 OFFICIAL _________________________________________________________ List of Background Papers • Scotland Loves Local Update 3; Economy and Regeneration Policy Board; 5 Nov 2024 • Scotland Loves Local Update, Economy and Regeneration Policy Board; 23 May 2023 Author: Euan Shearer, Regeneration and Place Manager Email: euan.shearer@renfrewshire.gov.uk Page 14 of 30
Page 19
Page 7 of 10 OFFICIAL Appendix A – Renfrewshire Retailers signed up to gift card scheme Total - 138 Renfrewshire Retailors - 12/10/2023 Merchant Name Merchant Address Adom Afro Paisley 46 High Street, Paisley, PA1 2AH Aldi 009 - Paisley 4 Fulbar Rd, Paisley PA2 9AP, UK Aldi 012 - Erskine 1A, Bridgewater Shopping Centre, Erskine PA8 7AA, UK Aldi 055 - Renfrew 41 High St, Renfrew PA4 8QP, UK Aldi 085 - Johnstone Patons Mill Rp, High St, Johnstone PA5 8FB, UK Andersons Jewellery Workshop 38 High St, Renfrew PA4 8QP Aspire Academy 17 Kelvin Avenue Hillington Industrial Estate G52 4LT Bailey’s Antiques 34 High Street Paisley Barrhead Travel service - Braehead Shopping Centre Unit 1, Intu Braehead Shopping Centre, King's Inch Road G51 4BN Baru Paisley 7B Moss Street Paisley Bianco e Nero 27 Gauze Street Paisley Brick Lane Studios/The Diane Mitchell Music School/Brick lane Studios Brick Lane Studios 7-9 Weir Street Paisley Renfrewshire PA3 4DW Cafe Fairfull 12A High Street Paisley Caleb Outlet 14B New St, Paisley PA1 1XY, UK CANCER RESEARCH UK GBR - Johnstone Units 1&2, 40-41 Houston Court, Johnstone, PA5 8DL CANCER RESEARCH UK GBR - Paisley 43 Causeyside Street, Paisley, Renfrewshire, PA1 1YL Cardbox 5 Hairst Street Renfrew, Renfrewshire PA4 8QU Cards Party Balloons Unit 2, 27 Causeyside St, Paisley PA1 1UL Castelvecchi 10 New Street Paisley, PA1 1XY Caulders Garden Centres Erskine Caulders Erskine, Erskine Bridge, Bishopton, Erskine PA7 5PU Coop 4247 Paisley Road - Renfrew 93 Paisley Road, Renfrew, PA4 8LH Coop 5825 Kilbarchan 20 High Barholm, Kilbarchan, Johnstone, PA10 2EQ Coop 7472 Houston 63 Crosslee Crescent, Houston, Johnstone, PA6 7DT Coop 8769 Bishopton New 26-30 Greenock Road, Bishopton, PA7 5JN Coop 9093 Paisley - Neilston Road 60-62 Neilston Road, Paisley, PA2 6NE Coop 9094 Bridge of Weir Main Street, Bridge Of Weir, PA11 3NR Domino's Pizza - Bridgewater Shopping Centre Unit 9 Bridgewater Shopping Centre, Erskine, PA8 7AA Domino's Pizza - Gauze Street Paisley Domino's Pizza 41 Gauze Street, Paisley, PA1 1 1EX Domino's Pizza - Johnstone 11 Laighcartside Street, Johnstone, PA5 8BY Domino's Pizza - Renfrew 9 High Street, Renfrew PA4 8QL Page 15 of 30
Page 20
Page 8 of 10 OFFICIAL Duffy Hairdressing 40 Causeyside St, Paisley, PA1 1YH Ecigarette Outlet 35 Causeyside Street Paisley, PA1 1YL Elixir Lounge Upper Floor, 12 New Street, Paisley, PA1 1XY Ellen Adams Hair 24 Glasgow Road, Paisley, PA1 3QH Farmfoods Hillington 249 unit 1 Earl Haig road, Hillington retail park, G52 4LY Farmfoods Paisley 255 29 Causeyside Street, Paisley, PA1 1UL Farmfoods Renfrew 250 5/6 High Street, Renfrew, PA4 8QL Finishing Touches 7 Johnston Street, Paisley, PA1 1XQ Food At Underwood Unit 1A 35 Underwood Road, Paisley, PA3 1TQ Framing Art 60 High St, Johnstone PA5 8SG Francis Hair Salon 3 Johnston Street Paisley, PA1 1XQ Gael Home Interiors 4 Orchard Street Paisley, PA1 1UZ Gantry 12 New St, Paisley, PA1 1XY Gillan Green Grocers The Paisley Centre, 23 High Street, Paisley, PA1 2AQ Grand Fusion First floor, 8 Moss St, Paisley, PA1 1BL H. Samuel - Braehead 38, Braehead Shopping Centre, G51 4BP Handcrafted Coffee 5 High Street Lochwinnoch PA12 4DB Harvies Tobacconist 20 Moss St, Paisley PA1 1BL, UK Hiltons Hair & Beauty 8A St Mirren St, Paisley PA1 1UA, UK HMV/Sunrise Records and Entertainment Limited trading as HMV Unit 167, Braehead Shopping Centre, Kings Inch Road, Glasgow, G51 4BN Houston Kiltmakers 67 High Street Paisley, PA1 2AY Iceland 782-Paisley 86/74 Glasgow Road, Paisley, Strathclyde PA1 3PN ICELAND JOHNSTONE 1 Houston Square, 56/61 High St Johnstone, Paisley PA5 8QG Iceland Paisley Piazza 1330 Unit 55, Piazza Shopping Centre, Paisley, PA1 1EH Indian By Nature Paisley/Obsession of India 32 Moss Street Paisley, PA1 1BA IVAD Gifts 29 Gauze Street Paisley, PA1 1ES John McKay Jewellers 53 Moss St, Paisley PA1 1DR John Marshall & Son 11 High St, Johnstone PA5 8HD Kiddie Boutique /Baby boutique by Claire Unit 106 Braehead Shopping Centre, Kings Inch Road G51 4BS Kettle Black 3 County Pl, Paisley PA1 1BN Kilts 4 u 2 Erskine Square Hillington G52 4BJ Kooks Hairdressing 22 New Street Paisley Kwik E Mart 61 High St, Paisley PA1 2AS Lidl GB JOHNSTONE 1270 10 High Street, Johnstone PA5 8JX Lidl GB PAISLEY NORTH 1725 Renfrew Road Retail Park, Wallneuk Road, Paisley PA3 4BF Luna Rossa 1-3 Canal St, Renfrew PA4 8QE Marks and Spencer - Odstock Road - Paisley Odstock Road, Paisley PA3 2ST Marks and Spencer Foodhall - Renfrew Retail Park - Paisley Unit 1, Renfrew Retail Park, Wallneuk Rd, Paisley PA3 4BF Page 16 of 30
Page 21
Page 9 of 10 OFFICIAL Marks and Spencer Simply Food - Braehead Shopping Centre King's Inch Road Braehead Shopping Centre, G51 4BP, UK Marks and Spencer Simply Food - Glasgow Airport Glasgow Airport Priority Security, Glasgow Airport, Paisley PA3 2SW McLaughlan and Co Jewellers 22 New Street Paisley, PA1 1YB Menkind King's Inch Road Unit 104, G51 4BS Moongemz Baby & Gifts 30b High Street Paisley Renfrewshire PA1 2BZ Morrisons Bed Centre 24 Lawn Street Paisley, PA1 1HF Musclebound 14A New Street Paisley, PA1 1XY New Look 1657 Paisley 14 The Piazza Shopping Centre, Paisley , PA1 1EL New Look 2019 Braehead 1B Braehead Shopping Centre, G51 4BP Noah Home and Gifts Ltd Braehead Shopping Centre, Kings Inch Road, G51 4BN Nomads Coffee Shop 63 High Street Paisley, PA1 2AS O'Neills Services Unit 43B The Piazza Centre, Paisley, PA1 1EL One O One 32 Kilbarchan Road 32 Kilbarchan Rd, Johnstone PA5 8RF Orchard Clinic Orchard Clinic, 16 Orchard Street, Paisley, PA1 1UZ Paisley Gift Cart 30b High St, Paisley PA1 2BZ Paisley Photoshop 10 Silk Street Paisley, PA1 1HG Paisley Physiotherapy Centre 13 Old Sneddon St, Paisley PA3 2AG Paisley Picture Framers & Gallery 56 Causeyside Street, PA1 1YW Paisley Pie Co. - Causeyside Street 25 Causeyside Street, Paisley PA1 1UL Paisley Pie Co. - Bridge Street 26 Bridge Street, Paisley, PA1 1XN Paisley Trophy Centre 5 George Place Paisley, PA1 2HZ Patrick & Son Hair Design 52-54 Causeyside St., Paisley PA1 1YW Premier – Johnstone 19 High Street, Johnstone, PA5 8JU Prestige Floors 50, 52 Causeyside St., Paisley PA1 1YW Print and Copy It 61 High Street Paisley, PA1 2AS Print Centre (GREENLAW GRAPHICS LTD) 31 Gauze Street Paisley, PA1 1ES PROFIX 67 Causeyside Street PROFIX Paisley, PA1 1YT Pure Spa and Beauty- Renfrew Pure Spa and Beauty David Lloyds Arkleston Road Renfrew PA4 0RA Rainbow Turtle 7 Gauze Street Paisley PA1 1ES Sainsburys - Kings Inch Road 110 Kings Inch Dr, G51 4BT, UK Scott McGinlay Catering 47 Causeyside St., Paisley PA1 1YN SEMI CHEM 003319 - Johnstone Unit 1, 9 William Street, Johnstone, PA5 8DP SEMI CHEM 3479 - Paisley 44-46 Central Way Piazza Paisley PA1 1EN SEMI CHEM 003517 - Renfrew 93 Paisley Road, PA4 8HD Shuttle 7 Shuttle St, Paisley PA1 1YD Sinclair's of Paisley 30A High Street Paisley, PA1 2BZ Smyths Toys Unit 22 Phoenix retail park Linwood Road PA12AB Snappy Shopper - Online Only Spar - Erskine Bargarran Shopping Centre, Erskine PA8 6BS Spar - Lochwinnoch The Cross, Main St, Lochwinnoch PA12 4AH Spar Glenburn 170 BREAHEAD ROAD Paisley Renfrewshire PA2 8QD Specsavers - Braehead 110 Kings Inch Drive, G51 4BT Page 17 of 30
Page 22
Page 10 of 10 OFFICIAL Spoons Coffee House 71 Causeyside Street Paisley Renfrewshire PA1 1YT St Vincent's Hospice 11a Moss Street, Paisley, PA1 1BE Subway - Paisley 20 High street Paisley Renfrewshire PA1 2BS Summits outdoor 36 Moss Street paisley PA1 1BA Sunset Beach - Hairst Street 59 Hairst Street Renfrew PA4 8QU Taste Buds 22A Lawn Street Paisley, PA1 1HF The Bankhouse 7 Gilmour Street Paisley, PA1 1DD The Grumpy Monkey Coffee House 22 Moss Street Paisley, PA1 1BA The Keg 15B Gilmour Street Paisley, PA1 1DD The Keg Shack 46 Hairst St, Renfrew PA4 8QY The Pantry 31 Gauze St, Paisley PA1 1ES The Pet Shop Units 3 & 4, Houstoun Court, Johnstone PA5 8DL The Perfume Shop 66 Kings Inch Road Unit 160 Braehead Shopping Centre, Kings Inch Road G51 4BS The Ugly Duck 38 High Street Paisley Threadbear – Bears by Sue Quinn 25 Lawn St, Paisley PA1 1HD Tresspass - Braehead Unit 103 Braehead Shopping Centre, Kings Inch Road G51 4BN Two Towns Door Brewing 47 Back Sneddon St, Paisley PA3 2DD Weaver’s Cottage The Cross, Kilbarchan, Johnstone PA10 2JG What IF Paisley 25 Moss Street Paisley, PA1 1DJ Wholesale Domestic Bathrooms 50 Montrose Avenue, Hillington Park, G52 4LA Wildflower Florists 9 Gauze St, Paisley PA1 1EP With Love Flowers 48 Causeyside St, Paisley PA1 1YH, UK WM Morrisons Ltd - Erskine Bridgewater Bridgewater Shopping Centre, PA8 7AA WM Morrisons Ltd - Johnstone GBR 30 Napier Street, Johnstone PA5 8SF WM Morrisons Ltd - Paisley Anchor Mills GBR Anchor Mill, Paisley PA1 1GZ WM Morrisons Ltd - Paisley Falside Rd GBR Falside Road, Paisley PA2 6JE WM Phelps Butchers 41 Causeyside St., Paisley PA1 1YL Zambretto Italian 42-46 Old Sneddon St, Paisley, PA3 2AP Page 18 of 30
Page 23
PUBLIC To: Economy and Regeneration Policy Board On: 4 November 2025 Report by: Chief Executive Heading: Net Zero Business Support and Grants 1. Summary 1.1 This report provides an update to the Board on the activities of the Economic Development Team in advancing the Green Economy workstream with Renfrewshire businesses. The work focuses on supporting local enterprises to reduce their carbon footprint and develop innovative approaches to achieving Net Zero. This includes delivery of the Net Zero Business Grant Fund, launched in May 2022, alongside a range of wider business support initiatives. 1.2 The report outlines the current approach, progress of the fund to date, proposed actions to increase successful applications, and the broader package of Green Economy support being implemented. 2. Recommendations 2.1 Board members are asked to: (i) Note the contents of the report. 3. Background 3.1 Promoting a Green Economy in conjunction with local businesses was a new area of work for the Council from 2022. There are over 5,000 businesses operating in Renfrewshire and each generates carbon emissions through their use of buildings and transport as well as industrial or farming processes. 3.2 Businesses are being encouraged to reduce the impacts of climate change by calculating their carbon emissions, identifying which parts of the business contribute most to the production of greenhouse gas emissions and strategically planning what actions are needed to take to make the business Item 3 EAR041125 Page 19 of 30
Page 24
PUBLIC more sustainable. 3.3 This workstream is being progressed principally through the delivery of a package of green business support, including a Net Zero Business Grant. 4. Net Zero Business Grant Update 4.1 An initial action within the Green Economy remit was the design and implementation of a Net Zero Business Grant for Renfrewshire which was launched in June 2022. 4.2 The Grant was established via resources secured through the Climate Change Action Fund and Local Authority Covid Economic Recovery Fund. It is open to small and medium sized enterprises (SMEs) operating from premises within Renfrewshire. Local businesses can apply for up to £10,000, to a maximum of 50% grant rate, towards eligible projects which will reduce their carbon emissions. 4.3 In order to monitor emission reductions, the application process requires potential applicants to gather baseline carbon footprint information for their organisation and to demonstrate how the proposed project will reduce their future emissions. 4.4 The Net Zero Business Grant fund has attracted a significant number of enquires. Thus far, there has been 14 successful applications resulting in a funding award of just over £124,000. The projects include: • Manufacturer of ingredients for the food industry – invested in a full replacement of its existing lighting system with an energy-efficient LED system. The reduction in their scope 2 emission meant: o Previous electricity consumption (lighting only) per annum (p.a) was 107,630 kWh o consumption after investment was 30.212 kWh, a reduction of 77,418 kWh or an annual environmental saving equivalent to 16.4 tonnes in C02e emissions. o Current annual cost of electricity is £32,289, proposed future cost is estimated at £9,064, savings of £23,225 p.a. o Project investment payback in year 2. • Electrical engineering and electrician business – invested in solar panels and battery installation capable of generating 26kw leading to an estimated electricity generation output of 18,192 kWh. Over a 25-year period, the total electricity generated is expected to be: o 427,459 kWh, of which 40% will be consumed on site, with the remainder exported to the Grid. o Energy costs savings over this period are suggested at £111,333 and export payments received for supplying surplus electricity to the Grid for the same period will earn £49,145. o The total value of future benefits and cost savings over 25 years would therefore be £160,478. • Wholesale supplier of domestic bathrooms – a key area of greenhouse gas output for the business came from electricity consumption from the Grid (Scope 2). Their investment in a roof solar panel system meant that: Page 20 of 30
Page 25
PUBLIC o the total energy generated from this new solar panel system would be 60,886 kWh / annum - split 73% for their own consumption with 27% passing to the Grid during peak generation summer months. o This would lead to a 25% annual saving on Grid electricity purchased and at least a £17k p.a reduction in energy bills 5. Wider Net Zero Business Support 5.1 Achieving Net Zero and building climate resilience remain key challenges for businesses. To support this transition and help offset rising energy costs, seven of the eight Glasgow City Region member authorities used UK Shared Prosperity Fund resources to partner with the University of Strathclyde. Through the University’s Extend Plus programme, Renfrewshire SMEs were offered a free Greenhouse Gas Carbon Baseline assessment. 5.2 The Extend Plus team supported SMEs to measure their carbon footprint and identify opportunities for emission reductions, cost savings, and annual CO₂e reductions. Each assessment provided a one-year emissions snapshot of their scope 1, 2 and 3 emissions (see below) along with recommended actions establishing a foundation for future Net Zero planning. 5.3 Scope 1 - these are direct emissions, including those from processes and vehicles. Scope 2 - these are indirect emissions that come from purchased electricity, heating, cooling and steam that is used in running a business. Scope 3 - these are also indirect emissions that come from the supply chain, employees’ waste, water use, use of business travel including flights, distribution of products, consumers using your products. 5.4 Running from March 2024 to March 2025, the programme was delivered at no cost to participants. Businesses provided energy data using a streamlined checklist developed by the Extend Plus team. The initiative was coordinated by the Glasgow City Region Programme Management Office, which managed delivery and reporting, while member authorities referred eligible businesses to the programme. 5.5 This initiative was well received with 51 SMEs within Renfrewshire receiving carbon baseline reports before the project closed in March 2025. These reports could then be used to support an application to the Net Zero Business Grant fund, to develop their strategy towards net zero and provided a first step towards on-going monitoring and evaluation of their carbon emissions. 5.6 A series of events have been held to raise awareness of the net zero agenda and share knowledge. These have included a large-scale event with Glasgow City Region partners, as well as a series of smaller, local events focused on local networking with speakers highlighting best practice and opportunities for progression. 5.7 Training events have also been held to upskill SMEs, contractors and colleagues. These aim to build confidence and capacity when considering sustainability initiatives. Page 21 of 30
Page 26
PUBLIC 5.8 In 2024-25, budget was allocated to a Business Challenge Fund through the UKSPF for additional business support programmes in key areas such as business growth and productivity, innovation, internationalization, digital upskilling, sustainability and net-zero 5.9 The Business Challenge Fund supported the delivery of technical upskilling for contractors wishing to move into “green markets”. This supported 16 businesses and enabled 42 individuals to access this training free of charge and aimed to increase the number of contractors available to deliver green technologies within Renfrewshire. 5.10 Business Advisors also benefited from upskilling with climate literacy training provided to the Business Development team. 5.11 Support has also been provided to assist local businesses to adapt to new ways of working through local initiatives such as the successful application to the Zero Waste Scotland Ditching Disposables scheme. This has allowed Paisley First BID and the Atrium Café in Renfrewshire House to access reusable cups free of charge. In turn, reducing single-use cups, waste and business costs. 6. Challenges & Next Steps 6.1 It is considered that the provision of the Extend Plus service was crucial to providing businesses with the advice and data required to inform their strategic decision making when investing in this area. This is in addition to providing the technical information required for the grant application. 6.2 Whilst 51 SMEs within Renfrewshire received carbon baseline reports, many did not go on to submit an application for net zero funding. It is considered that there are several factors contributing to the lower than anticipated conversion rate including: • Increasing cost of doing business reduces capital available for businesses to invest in improvements. The grant fund currently requires 50% match funding which could be prohibitive to some. • Increasing costs of doing business impacts prioritisation of net zero projects for SMEs. • Lack of knowledge and capacity within SMEs to take this forward • Lack of access to technical skills/advice required to implement net zero initiatives. These factors can discourage some businesses from progressing beyond the initial enquiry stage. 6.3 To address the obstacles identified and improve conversion rates within the Renfrewshire Net Zero Fund a suite of support is being offered to encourage more businesses to move from enquiry to application, including: • Raising awareness: To raise awareness and promote climate literacy, we will continue to hold events bringing together speakers and workshops from organisations who have positively engaged in the green agenda to share experience and best practice. Page 22 of 30
Page 27
PUBLIC • Early engagement and expert advice: Eligible local SMEs will have access to a carbon baseline review for their organisation. This baseline can then be used inform investment decisions, set carbon reduction targets, monitor impacts and encourage on-going evaluation of their net zero journey. • Technical support: In addition to the carbon baselining, consultancy services will be offered to SMEs based in Renfrewshire which will provide the technical support required to deliver carbon baselining for a limited number of businesses. This service will be available to SMEs based within Renfrewshire, identified through the Net Zero Grant process. Whilst baselining will not always be required in advance of grant applications, the service can be carried out as the project progresses where the activities are more carbon efficient and will make a saving. • Use of case studies: Sharing real-world examples of successful projects to demonstrate feasibility and benefits. • Upskilling & training: Training will be made available to SMEs based on feedback from businesses, events and the research project. By improving clarity, accessibility, and support to SMEs the likelihood of converting initial enquiries into formal net zero grant applications should increase. 7. Conclusion 7.1 The proposed package of business support comprising training, events and consultancy services will allow small and medium enterprises to improve their knowledge and understanding of the sustainability agenda, explore the green options available to them and make informed investment decisions. 7.2 The provision of training support will also aim to provide businesses with the skills required to continue monitoring and improving their emissions independently. Subsequently, organisations will be in a better position to access grant support for feasible and significant carbon reducing projects, in addition to meeting ever-increasing sustainability requirements of consumers and in the wider supply chain, funding and procurement spaces. Implications of the Report 1. Financial - No additional finance sought. Resources from the existing Climate Change Action Fund, the Local Authority Covid Economic Recovery Fund and the UK Shared Prosperity Fund would ensure that business support is available. 2. HR & Organisational Development - None 3. Community/Council Planning • Jobs and the Economy – progresses net zero agenda and green business support Page 23 of 30
Page 28
PUBLIC 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. 12. Childrens Rights - None 13. Cosla Policy Position- Not Applicable. 14. Climate Risk – Not Applicable. ___________________________________________________________________ List of Background Papers • Economy and Regeneration Policy Board, 24 January 2023 “Net Zero Business Support and Grants” ___________________________________________________________________ Author: Colette Saez colette.saez@renfrewshire.gov.uk Page 24 of 30
Page 29
PUBLIC ___________________________________________________________________ To: Economy and Regeneration Policy Board On: 4 November 2025 ___________________________________________________________________ Report by: Chief Executive ___________________________________________________________________ Heading: Paisley Centre Redevelopment - Update ___________________________________________________________________ 1. Summary 1.1 The purpose of this report is to provide an update on the proposed redevelopment of the Paisley Shopping Centre since grant of planning permission in principle in March 2022 and an update report presented to this Board in November 2023. 1.2 The conclusion drawn by officers, based on the information provided to date by the proposed developer and the analysis of options in terms of the Council’s direct involvement in the currently proposed development, is that it is financially unviable. ___________________________________________________________________ 2. Recommendations 2.1 It is recommended that the Board: i. Notes the content of this report. ___________________________________________________________________ 3. Background 3.1 The Paisley Centre was opened in 1992 and became the second principal shopping mall in Paisley Town Centre, after the Piazza Centre at Gauze Street. Like all shopping malls it has gone through periods of transition as shopping habits and formats have changed. In recent years as footfall has moved away from traditional town centres to other retailing offers, particularly to online purchasing, and the Centre has seen significantly reduced demand for its available units. Item 4 EAR041125 Page 25 of 30
Page 30
PUBLIC 3.2 In 2020, Beyond Retail purchased the shopping centre with the purpose of exploring repurposing and redevelopment options. They engaged early with Council officers in pre-application discussions which led to the submission of a “masterplan application” in November 2021. This application for a mixed-use redevelopment, including residential, hotel, health centre, offices, retail and leisure was approved by the Council’s Planning Board in March 2022. 3.3 In November 2023 the Council’s Economy and Regeneration Policy Board considered a report from officers and agreed that: • the Council would continue to work with Beyond Retail to develop a full business case for the proposed redevelopment of the Paisley Centre site; • regular update reports will be brought back to board as the business case is progressed; and • in due course Beyond Retail’s business case would be brought to Board for consideration. ________________________________________________________________ 4. What has happened since November 2023 4.1. Over the last 2 years discussions have continued on the proposition being made by Beyond Retail to Renfrewshire Council. A proportion of this period has been spent awaiting a beneficial change in the national economic position regarding interest rates for borrowing the capital cost of the proposed development from the landowner’s perspective. 4.2 In June 2025 Beyond Retail presented a revised proposition to the Council seeking (as with their position at 2023) the local authority taking a long term “income strip” lease of the new development (hotel, residential, retail and other commercial space) at a pre-determined annual rental level. The Council would retain the income derived from the sub-leases to the occupiers / operators of the development and would subsequently take full ownership of the development outright once the lease was concluded. 4.3 The most significant change to the proposal from the earlier position (2023) was to the capital cost of the development and the proposed headlease terms to the Council. The estimated capital costs of the headlease, which is directly linked to the capital cost to deliver the proposed development, had increased substantially by around 40% and this change was consistent with concerns previously expressed by officers (in 2023) that the estimated development costs of the proposal were undersized. 4.4 To seek to mitigate the impact of this increase in capital costs on affordability, the developer proposed a significantly extended lease arrangement (50 years as opposed to previously proposed 35 years) to the Council. This increase in the proposed lease duration is intended to reduce the initial year 1 lease costs (which would be subject to annual indexation over the life of the lease) to improve the affordability assessment, particularly over the initial years. Page 26 of 30
Page 31
PUBLIC 4.5 There has been no material change in the assessed income that the completed development is likely to generate (since 2023 assessment), and such was the shift in estimated capital cost of the lease, the year 1 lease cost under the 50 year proposal was more expensive than the previous 35 year comparable terms. Consequently, the fundamental financial appraisal from the perspective of the Council had weakened significantly between 2023 and 2025. 4.6 The principle of a 50-year lease presents risks and challenges to local authorities, particularly given that part of the proposed development (hotel) is intended to be in a refurbished existing building. This would mean that the hotel building (at the end of the 50 year lease) would be over 80 years old. 4.7 Overall the risks can be summarised as: • the Council would carry all the commercial risk and responsibility for income generation across multiple land uses and over the 50 year duration of the lease; • needing to ensure that best value can be demonstrated in terms of the use of available public funds; • income strip leases of 50 year duration involving local authorities tend to be very much a niche market and limited to high demand and high economic value locations in some of the UK’s largest cities, particularly central London; • such a long lease period would present challenges in terms of the affordability of lifecycle maintenance and the scale of interventions required over this length of time; • with no material change in assessed income potential the significant increase in estimated capital delivery costs has significantly weakened the viability of the project. • for accounting purposes, the property assets and lease would need to be reflected on the Council’s balance sheet which presents difficulties as only exceptional new build assets would be accounted for and written off over a period of circa 50 years (an example would be the new Renfrew Bridge which has a design life of 120 years+). ________________________________________________________________ 5. Viability of the proposed development 5.1 Aside from the length of the lease term being proposed there are several fundamental viability challenges with the proposed redevelopment of the Paisley Centre. 5.2 The Nov 2023 Board report highlighted the “market failure” position sites such as this find themselves in. The private sector will not develop the site independent of public sector support as it will cost more to construct and operate than will be returned through income. In the Council’s analysis, this was the case with a proposed offer of a 35 year lease term and remains, albeit more acutely, the case over a 50 year lease period. Page 27 of 30
Page 32
PUBLIC 5.3 This viability dilemma is accentuated in towns such as Paisley where the achievable income from hotel accommodation or rental income for a residential apartment is significantly lower than that which could be achieved in, for instance, central Edinburgh or Glasgow City Centre. This means that although the capital development costs are similar predicted income is much lower. This results in development proposals of this type in locations like Paisley being extremely marginal at best, and more often commercially unviable. 5.4 Analysis of the development’s financial appraisal by Council officers would indicate that the proposed Paisley Centre redevelopment would need to be cross-subsidised with up-front pump prime grant funding of between £10m and £15m to achieve a potentially viable 35 year proposition for the Council to consider (it should be noted that such a proposition would still expose the Council to significant commercial risk over the life of the project). 5.5 Early discussions have taken place with Scottish and UK Governments in terms of potential funding sources that may become available to support the current Paisley Centre proposals. To date no confirmation of such funding or potential funding routes at this scale being available to the Council has been made. These discussions have included exploring other funding options (eg. growth accelerator model or similar) with Scottish Government. These conversations are only at a preliminary stage and may yet identify future opportunities that could emerge for example from UK and Scottish Government comprehensive spending review announcements . 5.6 Even if a pump-prime funding source were to be made available and secured for the regeneration proposals, there would still require to be a full commercial business case developed for what would remain a complex commercial operation that would carry a wide range of long term financial risks. This would include fully costed detailed designs for the proposed floorspace and all the associated elements along with fully updated commercial due diligence appraisals of the range of commercial elements of the development from the hotel, commercial, retail & food and drink floorspace and build to rent residential development. Reference was made to this requirement in the November 2023 report. To date Beyond Retail have not been willing to fund detailed designs without having an in-principle agreement from Renfrewshire Council to agree to the proposed 50 year lease. 5.7 Given the level of uncertainty involved in the development’s viability, combined with the risks associated with agreeing to the proposed lease duration and the identified need for some form of significant pump-prime grant support to support a 35 year lease term, the Council have not been able to offer this level of assurance to Beyond Retail. 5.8 Section 5 of the November 2023 Economy and Regeneration Board report highlighted a number of fundamental and challenging issues for the business case process. Due to the lack of additional detail provided since this date and no route or source yet identified for a significant regeneration grant it has not been possible to offer the Council assurances in terms of how these can be overcome. ___________________________________________________________________ Page 28 of 30
Page 33
PUBLIC 6. Next steps 6.1 These are not particularly clear currently. Beyond Retail owns the site and they continue to operate the shopping centre on a day to day basis. 6.2 Based on what has been provided to the Council to date, officers are unable to meaningfully progress any partnership approach with Beyond Retail to develop a viable business case for the current proposed redevelopment for the Council to consider. At present the proposal’s financial fundamentals represent a significant risk and unviable proposition. It is recognised at this stage that to overcome such financial deficiencies, a source of significant national regeneration grant funding would need to be introduced into the funding mix to move the proposal into a position that could offer the Council a viable, but not risk free, long term commercial proposal to consider. 6.3 Council officers will continue to maintain a dialogue with Scottish and UK Government officials in terms of alternative options and funding sources to assist the deliverability of the proposals. 6.4 Further update reports will be brought back to the appropriate Council Board should the above circumstances change. ___________________________________________________________________ Implications of the Report 1. Financial – None at this stage. The Council commitment of up to an estimated £0.1 million funding from existing regeneration resources to support the commissioning of relevant expertise and advice for the Council remains in place. 2. HR & Organisational Development – None. 3. Community/Council Planning – Jobs and the Economy - the scheme has the potential to secure additional income for Renfrewshire based businesses, which in turn could support more investment and jobs within the local economy. 4. Legal – None at present. Any changes to this would be the subject of subsequent reports to Board. 5. Property/Assets – None at present. Any changes to this would be the subject of subsequent reports to Board. 6. Information Technology - None. Page 29 of 30
Page 34
PUBLIC 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 – There are a number of potentially unacceptable commercial risks which the Council would face as are outlined in the report. 11. Privacy Impact – None. 12. COSLA Policy Position – Not applicable. 13. Climate Risk – Not applicable. 14. Children’s Rights – Not applicable _________________________________________________________ List of Background Papers • Paisley Centre redevelopment – update; Economy and Regeneration Policy Board; 7 November 2023 Author: Alasdair Morrison; Head of Economy and Development; Email: alasdair.morrison@renfrewshire.gov.uk Page 30 of 30