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Edinburgh Reporter
5 days ago
- Business
- Edinburgh Reporter
Millions raised from the sale of council-owned property
The City of Edinburgh Council has raised £48.8 million from the sale of a range of properties, according to an investigation conducted by independent news cooperative, The Ferret. Although city prices are higher than elsewhere, by comparison The City of Glasgow Council sold only £20 million of their properties in the same period. In total, Scottish local authorities sold off 1,851 properties in recent years and between 1 January 2020 and 31 December 2024 the total value of council owned property sold off was £243 million. Edinburgh properties Some of the larger numbers in the Edinburgh figures represent land sold for residential developments such as the land at Meadowbank which will be developed for housing and which has a price tag on it of £9.9 million. This and the other site at Fountainbridge which is said to have raised £9.6 million make up a large proportion of the property sold off and are essentially 'balance sheet' transactions transferring the property into the housing revenue account. Finance and Resources Convener Cllr Mandy Watt explained: 'Despite the financial challenges Edinburgh Council has faced over many years, the sale of council owned properties has mainly generated funds to invest in better schools, homes and workplaces. There have also been disposals as part of the community asset transfer programme, which allows local groups to bid for council land and buildings for community use. 'It's common practice for us to transfer land from our general fund to our housing revenue account. All land and buildings owned by the council are evaluated for potential social and affordable housing use before consideration is given to selling them. Sometimes we work with local community groups to develop a place plan, with a mix of housing and commercial buildings, so that areas have local jobs and services in addition to much needed new housing. This is what we are doing at Meadowbank and at Fountainbridge.' Edinburgh has sold off five schools – although this is usually where they have committed to building a new school in the same catchment area. STUC The Scottish Trades Union Congress commented on the sales saying that the scale was 'alarming as it is unsurprising'. Deputy general secretary Dave Moxham said that local authorities are 'swinging the axe' at services which provide vital support for everyone in our towns and cities'. This comment reflects the outcry when Edinburgh council agreed to 'sell off' – (actually this was achieved by means of a long lease) – the property at Infirmary Street to the Edinburgh Festival Fringe Society. Previously several third sector groups used the building which the Society are now renovating with the aid of around £7 million of UK Government funding to create a Fringe hub. In emotional deputations to the council the third sector groups explained why this central location was crucial to their work, but this did not prevent the transfer of the property off the council's books. Work has begun at the former South Bridge Resource Centre to convert it into the new Fringe Hub COSLA, which represents Scotland's local authorities, said that while councils 'work hard to continue running high-quality services', they face significant budgetary challenges. 'This means that in some cases they have had to make difficult decisions about which properties and services they can continue to run,' said a spokesperson. 'COSLA will continue to advocate for a fair budget settlement for Scottish local government that recognises the importance of local decision making in getting the best outcomes for our communities.' Meanwhile the Scottish Government has repeatedly said that it has given Scottish councils a record payout this year of £15.1 billion. The government claims 'this is a real terms increase of 5.5%'. Meanwhile local authorities have to pay wage rises, additional employer National Insurance contributions, all amid higher demands for their services – including health and social care where there is a shortfall of an estimated £50 million. The list of properties sold in the capital includes these: Loading… Edinburgh City Chambers. © 2023 Martin McAdam Like this: Like Related
The Herald Scotland
25-06-2025
- Business
- The Herald Scotland
Edinburgh Royal Mile tourist office to reopen under new management
Alongside providing visitor information and ticket sales for attractions and tours, the new 'Experience Scotland' centre will include a retail element featuring 'Scottish-made products, unlike many existing Royal Mile retailers,' Cobbs Group said. Councillors agreed a 25-year lease worth £150,000 per year for the unit at 249 High Street on Tuesday. After the closures were announced last year, the council considered taking over the running of the tourist office. However, the proposal was scrapped after it emerged it could cost the authority over £500,000 a year at a time when its budget is already under significant pressure. At a meeting last November where the idea was discussed, Councillor Stuart Dobbin, SNP, said: 'We're not in the tourism business.' He added: 'There are organisations that cater to tourists and I think we need to listen to expert organisations in that business such as VisitScotland and they're giving up the visitors' centre for a reason - that they can't make it work and that they've got alternative strategies for communicating with visitors.' A report to councillor this week states: 'Cobbs are an established tourism based retailer which has been in existence for over 30 years. They currently operate four hotels in the Highlands, 12 gift shops in key tourist locations and employ over 500 staff. They have recently taken over two former Visit Scotland premises in Fort William and Aberfoyle. 'The offer will consist of Scottish themed retailing featuring local producers such as Edinburgh Honey Company, Coco Chocolatier, and Red Box tea and coffee. 'The visitor offering will include an interactive area dedicated to providing visitor information and ticket sales for Edinburgh/Scottish attractions and tours. Cobbs have also confirmed that they would be keen to work with tour operators of all sizes to operate a desk within the property, potentially on a rota basis.' Read more: Cobbs said the centre will offer an 'authentic Scottish experience featuring predominantly Scottish-made products, unlike many existing Royal Mile retailers'. Councillor Mandy Watt, Finance and Resources Convener, said: "While more and more visitors are planning their trips to Edinburgh online, you can't beat a warm Scottish welcome face to face. "We believe there remains an appetite for this type of in-person experience for visitors, particularly with the draw of a shop and a café, so I'm pleased that we've been able to secure the visitor information centre's future. "This will prove invaluable as we encourage tourists to visit all parts of the city in all seasons as part of the city's tourism strategy, and as we introduce Edinburgh's Visitor Levy next summer. The lease will also support us to raise income worth £3.5 million over the next 25 years. "Cobbs is well established throughout Scotland with the family nearing 40 years of tourism experience and we're looking forward to welcoming them into the space." Fraser Campbell, managing director of the Cobbs Group, said: "We're well established in Scotland as the Cobbs group and we proudly operate 35 sites across the country. Opening a tourism office in the heart of Edinburgh is a dream and we're excited to take over the lease. Right in the heart of Edinburgh's festival action, it is the ideal site for showcasing everything the city and Scotland has to offer. 'We're particularly keen to highlight local experiences and 'Made in Scotland' items where we can and I'd urge makers and crafters to please get in touch so that we can offer a unique and authentic range for tourists to enjoy on Edinburgh's famous Royal Mile.'
Edinburgh Reporter
25-06-2025
- Business
- Edinburgh Reporter
New tourist office to open on the Royal Mile
Following the closure of the VisitScotland office next to the City Chambers earlier this year, the council has secured a tenant. The rent payable to the council will be less than paid by the previous tenants but will be reviewed at the five year break and the lease will run for 25 years. VisitScotland closed all of their visitor centres earlier in the year including this one at 249 High Street. the council is keen to keep a 'tourism offer' on the High Street and want to lease this to Cobbs which has offered a 'good rental' on a 25 year lease. If the council had wanted to open its own visitor centre the building would have required further work – and it would have required around £550,000 of funding each year. VisitScotland had reported the running costs were high relative to their income. The report before the council committee this morning states: 'Cobbs are an established tourism based retailer which has been in existence for over 30 years. They currently operate four hotels in the Highlands, 12 gift shops in key tourist locations and employ over 500 staff. They have recently taken over two former Visit Scotland premises in Fort William and Aberfoyle.' Cobbs have submitted a proposal for the 'Experience Scotland' retail and tourism offer within the ground floor space of 249 High Street previously occupied by VisitScotland. A copy of the proposal is in an appendix to the council report and may be found here online. The offer will consist of Scottish themed retailing featuring local producers such as Edinburgh Honey Company, Coco Chocolatier, and Red Box tea and coffee. The officer recommendation is: 'It is considered that the proposal from Cobbs provides the right balance in terms of commercial return to the Council with the inclusive rent more than matching what was previously received from VisitScotland on the ground floor. In addition, there is a commitment to providing a tourist based offer with the scope to develop this further in conjunction with the Council's Business Growth and Inclusion service.' The rent will be £150,000 for the first five years when it will be increased at a review, and includes a proportion of utilities and rates payable for the building, and there will be a rent free period for the first three months since the property requires repair and upgrading. All papers and access to the webcast of the meeting can be found on the council website here Cllr Mandy Watt, Finance and Resources Convener, said: 'While more and more visitors are planning their trips to Edinburgh online, you can't beat a warm Scottish welcome face to face. 'We believe there remains an appetite for this type of in-person experience for visitors, particularly with the draw of a shop and a café, so I'm pleased that we've been able to secure the visitor information centre's future. 'This will prove invaluable as we encourage tourists to visit all parts of the city in all seasons as part of the city's tourism strategy, and as we introduce Edinburgh's Visitor Levy next summer. The lease will also support us to raise income worth £3.5 million over the next 25 years. 'Cobbs is well established throughout Scotland with the family nearing 40 years of tourism experience and we're looking forward to welcoming them into the space.' Fraser Campbell, Managing Director of the Cobbs Group, said: 'We're well established in Scotland as the Cobbs group and we proudly operate 35 sites across the country. Opening a tourism office in the heart of Edinburgh is a dream and we're excited to take over the lease. Right in the heart of Edinburgh's festival action, it is the ideal site for showcasing everything the city and Scotland has to offer. 'We're particularly keen to highlight local experiences and 'Made in Scotland' items where we can and I'd urge makers and crafters to please get in touch so that we can offer a unique and authentic range for tourists to enjoy on Edinburgh's famous Royal Mile.' The Edinburgh Reporter alerted readers to this news on Tuesday in our weekday article Five things you need to know today. Like this: Like Related
The Herald Scotland
25-06-2025
- Business
- The Herald Scotland
Edinburgh Royal Mile tourist office to reopen under new operator
Alongside providing visitor information and ticket sales for attractions and tours, the new 'Experience Scotland' centre will include a retail element featuring 'Scottish-made products, unlike many existing Royal Mile retailers,' Cobbs Group said. Councillors agreed a 25-year lease worth £150,000 per year for the unit at 249 High Street on Tuesday, June 24. After the closures were announced last year, the council considered taking over the running of the tourist office. However, the proposal was scrapped after it emerged it could cost the authority over £500,000 a year at a time when its budget is already under significant pressure. At a meeting last November where the idea was discussed, Councillor Stuart Dobbin, SNP, said: 'We're not in the tourism business.' He added: 'There are organisations that cater to tourists and I think we need to listen to expert organisations in that business such as VisitScotland and they're giving up the visitors' centre for a reason - that they can't make it work and that they've got alternative strategies for communicating with visitors.' A report to councillor this week states: 'Cobbs are an established tourism based retailer which has been in existence for over 30 years. They currently operate four hotels in the Highlands, 12 gift shops in key tourist locations and employ over 500 staff. They have recently taken over two former Visit Scotland premises in Fort William and Aberfoyle. 'The offer will consist of Scottish themed retailing featuring local producers such as Edinburgh Honey Company, Coco Chocolatier, and Red Box tea and coffee. 'The visitor offering will include an interactive area dedicated to providing visitor information and ticket sales for Edinburgh/Scottish attractions and tours. Cobbs have also confirmed that they would be keen to work with tour operators of all sizes to operate a desk within the property, potentially on a rota basis.' Read more: Cobbs said the centre will offer an 'authentic Scottish experience featuring predominantly Scottish-made products, unlike many existing Royal Mile retailers'. Councillor Mandy Watt, Finance and Resources Convener, said: "While more and more visitors are planning their trips to Edinburgh online, you can't beat a warm Scottish welcome face to face. "We believe there remains an appetite for this type of in-person experience for visitors, particularly with the draw of a shop and a café, so I'm pleased that we've been able to secure the visitor information centre's future. "This will prove invaluable as we encourage tourists to visit all parts of the city in all seasons as part of the city's tourism strategy, and as we introduce Edinburgh's Visitor Levy next summer. The lease will also support us to raise income worth £3.5 million over the next 25 years. "Cobbs is well established throughout Scotland with the family nearing 40 years of tourism experience and we're looking forward to welcoming them into the space." Fraser Campbell, managing director of the Cobbs Group, said: "We're well established in Scotland as the Cobbs group and we proudly operate 35 sites across the country. Opening a tourism office in the heart of Edinburgh is a dream and we're excited to take over the lease. Right in the heart of Edinburgh's festival action, it is the ideal site for showcasing everything the city and Scotland has to offer. 'We're particularly keen to highlight local experiences and 'Made in Scotland' items where we can and I'd urge makers and crafters to please get in touch so that we can offer a unique and authentic range for tourists to enjoy on Edinburgh's famous Royal Mile.'
The Herald Scotland
25-06-2025
- Business
- The Herald Scotland
Edinburgh Royal Mile tourism office secured for next 25 years
Councillor Mandy Watt, Finance and Resources Convener, said: "While more and more visitors are planning their trips to Edinburgh online, you can't beat a warm Scottish welcome face to face. "We believe there remains an appetite for this type of in-person experience for visitors, particularly with the draw of a shop and a café, so I'm pleased that we've been able to secure the visitor information centre's future. "This will prove invaluable as we encourage tourists to visit all parts of the city in all seasons as part of the city's tourism strategy, and as we introduce Edinburgh's Visitor Levy next summer. The lease will also support us to raise income worth £3.5 million over the next 25 years. 249 High Street is to the right of the arches in front of the City Chambers (Image: Google Maps) "Cobbs is well established throughout Scotland with the family nearing 40 years of tourism experience and we're looking forward to welcoming them into the space." Fraser Campbell, Managing Director of the Cobbs Group, said: "We're well established in Scotland as the Cobbs group and we proudly operate 35 sites across the country. Opening a tourism office in the heart of Edinburgh is a dream and we're excited to take over the lease. Right in the heart of Edinburgh's festival action, it is the ideal site for showcasing everything the city and Scotland has to offer. 'We're particularly keen to highlight local experiences and 'Made in Scotland' items where we can and I'd urge makers and crafters to please get in touch so that we can offer a unique and authentic range for tourists to enjoy on Edinburgh's famous Royal Mile.'
