Campaigners set up own firm in bid to buy Leith Walk’s Stead Place backed by Scottish ministers

The move comes after the current owner of the building had its plan to replace the building with student flats rejected by Edinburgh City Council

A bid by residents in Leith to set up a company that can take the threatened Stead’s Place building into community ownership has been approved by Scottish ministers.

After a successful campaign, activists and key stakeholders in the community have established a limited company called Our Leith Walk to buy the sandstone building if it is put up for sale.

The move comes after the current owner of the building, Drum Property Group, had its plan to replace the building with student flats rejected by Edinburgh City Council last year. Drum’s follow-up appeal was thrown out by the Scottish Government last December.

Scottish Ministers have approved a bid by residents in Leith to set up a company that can take a threatened building into community ownership. Campaigners have successfully established a Company Limited by Guarantee called ‘Our Leith Walk’ to buy the sandstone building at Stead’s Place, if it is put up for sale:

Our Leith Walk was born from the grassroots campaign Save Leith Walk, and has now registered an interest in a Community’s Right to Buy the land at 106-154 Leith Walk.

Anne Atkinson, a spokeswoman for the campaigners, said: “It feels fantastic to have finally got this over the line because it’s taken a lot of time and effort from local people giving up their spare time to get us here.

“We believe passionately that the best future for this much-loved building is for it to be owned and governed by the community it serves and used to benefit that community. We have a long-term, sustainable plan for this site and securing Scottish ministers’ approval for our company is a huge step on that journey.”

The Land Reform Act requires Scottish ministers to be satisfied that the acquisition of the land by the community body is compatible with “furthering the achievement of sustainable development”.

The main aims are to re-open the 22 small retail units and 1,350 sq m office space within the vacant building. The campaigners also hope to retain, reuse and improve the existing buildings.

Councillor Susan Rae, Leith Walk, said: “I really welcome the news that Our Leith Walk will now have the backing of Scottish Government for a community buy-out option at Stead’s Place. It’s an exciting development and the next stage of an amazing community campaign.

“I look forward to the next steps, knowing that all of those involved are moving forward positively and with a very clear community-focussed view of how we move things forward.”

The newly-formed business said it is confident it would be able to raise funds to buy the building once the current owner decides to sell.

Anyone wanting to get involved should contact [email protected]