£230,000 repair bill for historic Fife harbour stores valued at just £15,000
Councillors are to be asked their views on the future of historic stores buildings at St Andrews Harbour.
Repairs to the Category B-listed Fisherman’s Stores at The Shore are estimated to cost just over £230,000 but, in their current condition, have been valued at just £15,000.
The U-shaped building, which is a Common Good asset, contains nine small stores, seven of which are currently let and generate around £3,722 a year for the town fund. The remaining two cannot currently be let because of their condition.
A report to members of Fife Council’s North East Fife area committee said a survey had identified widespread timber decay and water damage to the roof timbers over three stores, problems with stonework and the boundary wall, corroded rainwater goods and water ingress affecting an electrical distribution board.
It continued: “The Fisherman’s Stores are a Common Good asset with heritage significance and ongoing income potential, but the latest survey information confirms significant deterioration and repair need.
“The updated feasibility cost estimate of £230,479 is materially higher than the current market value of £15,000 stated in the valuation report.
“There is currently £219,805 available in the St Andrews Common Good Fund, with an application of £6,950 pending approval.
“Committing the full available balance to this project would leave no remaining funds for grants or maintenance of other properties and would also require the withdrawal of funds from investments, which may have a detrimental impact on the future growth of the Common Good Fund.
“This creates a clear best value consideration for members when determining whether to retain and repair, dispose of or demolish the asset.”
The report said disposal may avoid future liability but would result in the “permanent loss” of a Common Good asset, while demolition would also remove the asset, although significant listed building and conservation constraints are likely.
It added: “Full repair has the highest upfront cost but is the option that retains the asset and protects its future use and income potential, however this option would have a significant impact on the Common Good Fund.”
Councillors will be asked to provide a “preferred direction of travel”, which will allow council officers to undertake the necessary legal, technical, statutory and financial work before a final decision is sought.