Alloa Advertiser | News | New owner for former Co-op store

Tuesday, 13th May, 2008

Published: Wednesday, 30th April, 2008 12:00

New owner for former Co-op store

By Hamish Hutchinson

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Alloa's former Co-op department store is now under the ownership of Zoom Developments.

THE future of the former Co-op store in Alloa is in the hands of a second developer, the Advertiser can reveal.

Previously property developer Ken Cairnduff, director of Glasgow-based Cairnduff Developments Limited, bought the former department store building for £1.6 million in November 2006.

The purchase came after the Co-op Group closed 10 of its biggest loss-making stores and put the remaining 26, including Alloa, up for sale.

The town centre premises had been trading for the Co-op since 1885 and the closure resulted in the loss of 30 full and part-time jobs.

Clackmannanshire Council officers had been in discussions with the new owner over potential proposals to convert the three-storey building into an in-town retail park housing numerous individual shops.

In November last year, a year after he acquired the building, Mr Cairnduff told the Advertiser that he had “exciting development” on the cards with plans expected to be lodged with the council very soon.

However, when the Advertiser contacted the developer this week for an update on his progress he confirmed that the property was sold off earlier this year to Glasgow-based firm, Zoom Developments Ltd.

Mr Cairnduff claimed he took the decision to put the building up for sale as he was unable to take the development further due to other commitments.

It is believed that the new owners, who specialise in residential schemes, plan to convert the premises in Primrose Street into a mixed development of retail and residential.

According to the company website, Zoom Developments choose prime locations “creating exciting and innovative buildings to exceptionally high standards”.

Past projects include a development of 42 detached and semi-detached properties located on Park Street, in the East End of Dumbarton, and 34 apartments in Glasgow City Centre with five individual penthouses.

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