£50 million regeneration scheme for former Shopping Centre in Fife

Tahir Ali of national property development and asset management firm Evergold has unveiled his vision for an ambitious £50 million residential regeneration scheme for The Postings Shopping Centre in Kirkcaldy,

Mr Ali bought the centre for £320,000 from pension fund Columbia Threadneedle three years ago and has been working closely with Greg Limb, Residential Investment and Development Partner at Ryden, on the regeneration scheme for over two years.

The plans include the demolition of the derelict shopping centre, which has been repeatedly ransacked and vandalised over recent months. the strategic three-acre town centre gateway site

To enable the demolition of the former Postings Shopping Centre Mr Ali has had to acquire many other properties along the High Street over the past two years through private and often complicated negotiations.

Once the demolition is complete the strategic three-acre town centre gateway site will be sold to a large developer who will redevelop it with a comprehensive residential scheme comprising up to 300 flats interlinked with green walkways designed to encourage pedestrian movement to and from the High Street and featuring landscaped public spaces.

Ryden has been advising on the best way forward for the project and dealing with interest which has already been expressed in the re-development proposals.