Planners give go ahead for over 20 flats to be created in Falkirk High Street
A property company’s ambitious £5 million plan to breath new life into Falkirk town centre has taken a massive step forward.
REWD (Real Estate Wealth and Development) Group, founded by local entrepreneurs Laurie Duncan and Alex Robertson, secured the massive property about Poundstretchers in Falkirk High Street in order to change the upper floors into 23 flats.
Now Falkirk Council planners have given permission for the change of use application for the premises at 150 High Street the firm can now progress its plans to increase footfall in the town centre by repopulating it through new residential properties.
REWD Group’s Alex Robertson said: “We now have planning approved for the 23 flats at 150 High Street above Poundstretchers and our project for the six flats at 8 Lint Riggs is awaiting planning and building warrant approval.
"We expect planning to come around the end of May, early June and we will begin the build immediately thereafter.”
REWD Group also has plans to buy a further three properties in Falkirk High Street to covert the upper floors into flats.
Mr Robertson said: “That will create a total of 17 additional flats. For obvious reasons we cant share the exact addresses until we conclude the purchases, but these will be announced in the coming month.
“All-in, with the five projects we are planning to spend somewhere in the region of £5 million on Falkirk High Street, which we believe will make a significant difference to the footfall.
“In addition we will be creating several smaller commercial units, which will be made available to local independent businesses.”
REWD Group’s £1.5 million investment in the 2500 square metres development above Poundstretchers initially would have seen 16 flats being created, but now, after a planning alteration, they are looking to create 23 flats.
The overall aim of REWD Group is to create wealth for its investors by addressing the significant supply and demand imbalance in the UK property market – and this can have the welcome knock on effect of regenerating struggling town centres at the same time.
The firm’s plans to convert the former Indian restaurant in La Porte Precinct, Grangemouth were given the go ahead by the council last year and work has now begun on that project.