Future of Gateway Centre uncertain

The Courier, 28 September 2000

The future of the multi-million pound Gateway Centre in St Andrews remains undecided almost four weeks after the closing date was reached for offers on the property.

A spokesman for Edinburgh-based receivers Grant Thornton confirmed yesterday that discussions were continuing with interested parties and he said it was possible that a public announcement could be made before next week.

The Courier revealed several weeks ago that serious interest had been expressed in the development by a consortium which includes the Stirling-based Castle Leisure Group - a business heavily involved in the leisure scene.

However, it remains unclear as to whether there have been other serious inquiries.

The £9 million building was put on the market after St Andrews International Ltd failed in its bid to sell several million pounds’ worth of memberships for the newly-formed St Andrews Golfing Society to American investors.

The financial crisis - at first denied by St Andrews International Ltd - led to receivership and the loss of around 60 jobs.

By the closing date on September 1, a number of parties had registered an interest in the building which enjoys superb views over the St Andrews links and contains bars, restaurants and a fitness suite.