St Stephen's church in Stockbridge is on sale again for offers over £500,000.
A full marketing campaign began this week, with signs going up outside the main gates yesterday and updated specifications appearing online.
In Breaking news (3.6.13) last year, we reported how the Category A-listed New Town landmark was to be sold off by the Church of Scotland. A buyer, it was announced soon afterwards, had been found.
But our repeated attempts since to discover who had acquired the property failed. A Church of Scotland spokesperson insisted commercial confidentiality must remain while terms and checks were being finalised.
That lengthy process appears now to have fallen through.
With a gross internal area of 23,560 sq.ft, the building was reconfigured in the 1950s and currently comprises a 450-seat church area, hall with stage, café, kitchen, and cellars/offices over three levels. It also boasts an almighty pendulum and views from the tower-terrace to die for.
No-one has so far been willing to reveal what uses last summer's mystery would-be buyer envisaged for the building.
Vending agent Rettie & Co say that the property is suitable for ‘conversion into a number of leisure/commercial purposes subject to obtaining all necessary consents’. It would need no change-of-use planning consent to continue as a church, crèche, day nursery, day centre, museum or educational establishment.
So far as we are aware, no-one has ruled out redeveloping the property for residential use. Presumably, though, the listed status of the building makes such a conversion difficult if not impossible. Unfortunately, the expense of maintaining such a listed building also makes it prohibitively expensive for many of the kind of organisations which would be willing to put up with its currrent layout, state of repair and working conditions.
However, Rettie & Co. spokesman David Reid told Spurtle today that the market has picked up considerably in the last 18 months and certainly since St Stephen's was last on the market in June. He says that 'strong interest has been shown in the building since it went back on sale shortly before Christmas'. No deadline for offers has yet been settled.
In part, this upturn has been stimulated by the UK government's £10 billion in lending guarantees pledged in 2013. This has allowed builders to borrow at lower rates and lenders to lend at lower risk, and so has generally loosened the development log-jam which prevailed before.
We contacted the Church of Scotland with a list of questions earlier this afternoon, and have been promised a response early next week. Watch this space.
