A Perth developer is pressing ahead with the second phase of a
£1 million city centre project despite the current economic uncertainty.
While many businesses have put plans on hold until coronavirus is tamed, Verimac Ltd is rolling out redevelopment plans for a prominent former bank building.
The one-time Clydesdale Bank headquarters in South Methven Street lay vacant for three years before being acquired by the Perth company.
The first chapter in the transformation of The Old Bank building saw Dental Care Perth relocate from Princes Street to a state-of-the art ground-floor surgery with six consulting rooms.
Now, Verimac has lodged a planning application with Perth and Kinross Council for another high-end 4,000 square feet project, with an unnamed business lined up for a move next year.
“The first phase of plans to breathe new life into this high-profile building in the city centre proved very successful,” said Verimac director Brian Blair.
“Dental Care Perth occupied a spacious unit packed with the very latest technology and it has gone from strength to strength.
“Encouraged by that, we are eager to move ahead with the second phase despite all the uncertainty being created by the fallout from the pandemic.”
Mr Blair said while it would have been easy to take a cautious approach and delay more investment, he said he had a tenant lined up for the development.
“The long-established Perth client sees the huge potential for expansion offered by The Old Bank development,” he added.
“They do have options elsewhere but are keen to remain in Perth and expand their existing business.
“At a time when so many units are empty and precious little investment is being made in city centres up and down the country, that has to be good news for the Fair City.”
Verimac is also keen to develop the historic Hal o’ the Wynd house to the rear of the former bank.
The three-storey property on Mill Wynd dates back to the early 18th Century and featured in Sir Walter Scott’s 1828 novel Fair Maid of Perth, which is reflected by a plaque on the front of the building.
“We have another potential tenant showing interest in this property,” said Mr Blair.
