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Given there is a projected -£28M Deficit to Reconcile!
Who can Slice the Gordian Knot of Non Viability?

22th November 2018

The cause of this massive non-viability has been the combination of the 1996 CPO failure, GDA’s rescindment of a £245k grant and Historic Scotland reducing a then awarded £990k grant to £250k instead of increasing it to £1.5M in 2000.


And the consequences of this lack of collaboration and comprehension has now combined to imperil significantly the future of a building described by GCC as “The Egyptian Halls in Union Street is considered by many to be the greatest architectural achievement of Alexander Greek Thomson and one of the finest buildings in the city.” (Glasgow City Council Report June 2010)


There have been significant Regenerational advantages to be realised since YEAR 2000 and even today if the project can be funded e.g via the recently announced £115M City Plan “Avenues Project” the following public gain would accrue.

Acknowledged Project Benefits

•  The preservation of the world famous Egyptian Halls 

 £20M+ Development begins much desired Union Street regeneration 

 114- 154 + bedroom, circa 3- 4 star hotel on the USI owned Upper Floors 

 Bars/Restaurants on USP owned Ground Floor 

 200 jobs-30+ Modern Apprenticeships 

 Deliver an EXTRA £400k Business Rates p.a.

And yet GCC, Historic Environment Scotland (HES) and successive Scottish Governments have refused to even discuss how this now toxic cultural and financial disaster can still be reconciled.

Key Commercial Funding Non Viability Facts and Projections

1996 = -£1.35M Deficit – £1.35M Grant Funding awarded – GCC’s CPO does not work

2018 = -£25M Deficit – GCC admits a Contract Breach 19 years to late! No Grant funding

2019 = Fund the projected Deficit -£28M or Demolish and New Build?

So to repeat who can Slice this Gordian Knot?

And preserve and return the Egyptian Halls to commercial sustainability?

Director USP/USD/USI/EHBPT

Joint Venture/For Sale

Mixed Leisure and Hotel Project Planning Options

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8,000 + Save the Egyptian Halls Petion.

Ignored by GCC-HS-Scottish Government.

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