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Brewery site to lie empty 'for some time'

posted 20 May 2009, 03:45 by David Rintoul   [ updated 17 Nov 2009, 10:16 ]

A large part of the former Fountain Brewery site is set to remain empty after plans to sell it off were scrapped.

Administrators KPMG received around a dozen offers for the land, which became available after council-backed developer Buredi's Fountainbridge subsidiary went bust.

But KPMG has turned down all of the bids as they are understood to have fallen short of the sum the administrator had to bring in to satisfy Buredi's main creditor, Royal Bank of Scotland.

The site of the former Tartan Club is now expected to remain empty for some time until the market starts to pick up.

All of those who entered bids for the site had proposed mixed-use schemes, involving a range of flats, offices, hotels, care homes, student accommodation and hotels.