Business improves for City Quay
Dundee's City Quay development is undergoing a recovery, with most of its premises filled.
- By Bruce Robbins
- Published in the Courier : 18.11.10
- Published online : 20.11.10 @ 01.48pm
What began as a retail centre has gradually become one of the city's commercial hubs after owners City Capital Quay decided to shift the emphasis for the development.
As a shopping centre it struggled to attract enough visitors to ensure viability of some of the retailers.
But the £20m-plus development has proved a commercial success with all but four units now let to satisfied tenants.
Fergus McDonald of marketing agents Ryden's said one of those units was under offer and interest was being shown in the three others.
He said, "Demand is fairly reasonable at the moment and we're hopeful that it won't be too long before we can say that City Quay is full up.
"Although we've had success attracting commercial companies, it's important to remember that we still have shops at City Quay.
"It's a good mix that seems to add up to more than the sum of its parts."
Opened in 2002 in a blaze of publicity, City Quay never quite found a place in the hearts of shoppers.
Cut adrift from the main shopping centres by the multi-lane Marketgait, it struggled to attract shoppers, and shops opened and closed with regularity.
After purchasing the site from Forth Ports in 2005, City Capital Quay decided the time was right to redevelop the centre, targeting it at the office market.
In place of warehouse-style shops are offices for accountants, property companies and the chamber of commerce, as well as a dentist, physiotherapist, restaurant and a children's play centre.
Three retailers remain — kitchen and bathroom showrooms and a golf store — and a restaurant.
Ryden recently found tenants for three units, prompting Mr McDonald to add, "The recent letting activity at City Quay shows that there is continued demand for commercial property and highlights the flexibility of the space available."
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