Renfrewshire Council could lease a new hotel and invest in private homes as its revealed plans to revitalise the Paisley Centre are “not commercially viable”.Beyond Retail, which owns the town centre mall, this week confirmed it has not attracted enough private sector investment to realise its plans for a hotel, 80 high-end apartments and medical centre.Now the business is suggesting the council invests in both the housing initiative and the hotel in a bid to make its ambition to regenerate the site possible.It could see the 129-bed hotel proposed for New Street leased to Renfrewshire Council but managed by a well-known hotel chain.
The lease would run for 35 years after which the local authority would assume ownership of the building.An innovative funding model would also allow the council to invest in the 80 flats to be built within the mall and former M&S store.But the council says unique financial models could mean that both could be completed without any capital investment from the local authority.Renfrewshire Live, the new free app dedicated to bringing you around the clock breaking news, is now available to download.Powered by the Paisley Daily Express, Renfrewshire Live is your go-to source for news, features and sport with live coverage provided direct to the app, seven days a week.The dedicated team of experienced journalists, responsible for the publication of the award-winning Express, will focus on breaking news, day and night, across Renfrewshire’s towns and villages.There is also a dedicated St Mirren section that will follow every kick of the ball with the Buddies. Available on both Android and Apple.
Read more on dailyrecord.co.uk