Plans to revamp and restore the Cambus Court Hotel building are on hold until economic conditions improve.
The Cambus Court building has lain empty since it was bought for £750,000 in 2006, and is owned by Terry Colhoun of Caluso Ltd.
The fate of the building, which was badly damaged in a fire last January, has been a regular topic of concern for residents at Cambuslang Community Council’s monthly meetings.
But in an exclusive interview with the Reformer, Terry Colhoun reassured residents the Grade B listed Victorian building in Central Avenue is still very much in their development plans.
In October 2008, South Lanarkshire Council gave Caluso Ltd planning approval to convert the Cambus Court Hotel into flats, as well as creating two modern blocks on either side of the building.
Mr Colquhoun said: “We were granted planning consent for 18 flats, and we fully intend to pursue that. This is still a viable site.
“It is a very marketable site, but the advice we have been given by our agent is this is not the time to bring it to the market, because of the lack of mortgage finance.
“Our plans are to reinstate the property, and after that the development may be undertaken if and when the property market recovers. There are no plans at this stage to develop the site given the state of the market. As I said we are not going to invest further to be left with unsold properties. Rest assured we will not walk away from the site but I would not want to mis-lead your readers that this might be any time soon. Clearly the economic picture is very gloomy for the next five years at least.
He added that the fire damage to the propert had been a source of frustration for SPS, but they are maintaining the integrity of the building.
Mr Colhoun said: “We constantly monitor the site. We have done everything we have been asked to, from a health and safety aspect.”
Cambuslang Community Council chair Iain McKenzie said: “It’s good to hear there is a future for the Cambus Court, but there’s still a worry about weather damage, with so much of the roof having come away, and the elements are getting inside.”
Cambuslang West SNP councillor Clare McColl added: “There’s a lot of fond memories of the Cambus Court for a lot of people in Cambuslang, as it’s an important part of our local heritage. It’s a beautiful building.
“It’s good to know that there are plans for it to be developed when the time is right.”
Mr Colquhoun concluded: “We have done a lot of work to take this forward, and we will bring it back. The market has not sufficiently recovered for this to happen yet.
“We are not going to walk away from it.”