An Economic Profile of the Glenrothes Area - Home Page
An Economic Profile of the Glenrothes Area - Home Page
An Economic Profile of the Glenrothes Area - Home Page
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Figure 10: Town Centre Retail Vacancy Rates during 20104017.5Number <strong>of</strong> UnitsVacancy Rate (Floor space)20.03614.814.115.814.216.0Number <strong>of</strong> Vacant Units322812.08.0Vacancy Rate (%)244.020Q1 09 Q2 09 Q3 09 Q4 09 Q1 100.0Source: Goad, Experian (April 2010)• The vacancy rate in Glenro<strong>the</strong>s has decreased from 17.5% in Quarter 1 2009 to 14.2% inQuarter 1 2010.• Of Fife’s main town centres Glenro<strong>the</strong>s has <strong>the</strong> second highest vacancy rate withKirkcaldy (16.4%) higher and Dunfermline (13.3%) and St <strong>An</strong>drews (5.5%) having lowervacancy rates.Major Investments in <strong>the</strong> Glenro<strong>the</strong>s <strong>Area</strong>The following developments have been undertaken or are under construction in <strong>the</strong> area.• A £1.7 million contract was awarded to Clark Contracts (Edinburgh) in June 2010 toextend <strong>the</strong> Balgeddie House Hotel. Completed at <strong>the</strong> end <strong>of</strong> 2010, <strong>the</strong> hotel extensionincludes ten new bedrooms and leisure facilities.• Full planning permission to build a repalcement Fife Institute <strong>of</strong> Physical Recreation andEducation was granted at <strong>the</strong> end <strong>of</strong> 2009. Graham Construction have been awarded <strong>the</strong>£21 million contract, which will see <strong>the</strong> new facility completed and operational by April2013.• A new business centre, Buko Business Centre, developed at <strong>the</strong> former BUKO site in <strong>the</strong>Southfeild area <strong>of</strong> Glenro<strong>the</strong>s, opened in May 2008. The £1.3 million project consists <strong>of</strong>11 business units and a tower block with 15 <strong>of</strong>fice suites.17