The redevelopment of Dundee’s Wellgate shopping centre is being reviewed in the wake of the BHS crisis.
A key partner, Light Cinemas, is still “very keen” to go ahead with its 900-seat, eight-screen multiplex in the troubled centre.
Plans to revive the Wellgate, once Dundee’s premier city centre shopping complex but now eclipsed by the Overgate, were unveiled in 2013.
Proposals by Orchard Street Investment Management, the commercial property specialists, included family restaurants, cafés, leisure outlets and shops along with the multiplex in a venture that would create hundreds of jobs.
The plans were welcomed in promising a major boost to Dundee’s night-time economy as well as important investment to the east end of the city centre.
Light Cinemas quickly showed its hand and predicted a 2017 opening for its venue which it has already spent £100,000 pursuing.
Other parties have been slow to declare their interest. Several have been involved in talks but agreements to be part of the Wellgate’s rebirth have so far proved elusive.
BHS, an anchor retailing tenant of the Wellgate in its 40-year history, had been set to maintain a strong presence.
That scenario has been thrown into doubt by the well-documented struggles of the major high street chain.
This week’s bombshell announcement of BHS’s plunge into administration, and possible closure with the loss of 11,000 UK jobs, has serious implications for the Wellgate’s development plans.
Peter Aitken, manager of the Wellgate, said: “BHS will be a huge loss to Dundee if the administrator is unable to secure a buyer for the company.
“The centre owners are working with a number of parties to develop a strategy for Wellgate and the proposed redevelopment incorporating cinema and food hall is still an active proposal.
“In light of the BHS speculation some time ago, our architects and consultants have been working on re-evaluating future development and general
options for the centre over the past few weeks.
“We understand that there has been recent dialogue between the owners and Light Cinemas who have confirmed their ongoing interest in Wellgate.
“The leasing team has been restructured and we expect an update on the strategy regarding the future of the centre in the coming weeks.”
John Sullivan, director of Light Cinemas, said: “We are still very keen, and keen to be in the centre of Dundee.
“If someone can show us a better location than the Wellgate we would look at it but I haven’t seen one yet.
“The Wellgate would be perfect for us.”perfect for us.”
