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Owner of Inverness Homebase Store Plans to Subdivide Unit After Closure

Homebase Grantham 725 x 500

The owner of a Scottish retail park has submitted a planning application to the local council to subdivide a DIY store on its site that is due to close next year.

The Homebase store on Inverness Shopping Park is one of the 42 branches that the company intends to close as part of a Company Voluntary Arrangement (CVA).

In August, Homebase announced that 95% of Homebase's creditors had voted in favour of the CVA and owner, Hilco Capital, had agreed to invest around £25 million in the business.

The branch, which is the largest unit on the site, will close in early 2019 with the loss of approximately 50 jobs.

Hercules Unit Trust, the owner of the retail park, submitted the application in the hope that two smaller units will be more attractive to potential tennants, as they say that there is no demand for the unit as it stands. 

The manager of the Inverness Business Improvement District (Bid), Mike Smith, is against the proposal and told local press: "In my personal opinion I do not think the plan should go ahead,"

"One of the restrictions of the retail park was that there were only to be single units in section 42 of the Town and Country Planning Act. To divide the unit into two is going against what has already been established.

"This is my opinion within my role as manager and not that of Bid. I would consider submitting a formal objection to the Highland Council but I would first establish the wider views of Bid before deciding the most appropriate action to take."

Stewart Nicol, CEO of the Inverness Chamber of Commerce said: "I think it would be a sensible and pragmatic approach to take." 

Source : Insight DIY Team

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07 October 2018

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