Gareth Downie, managing director of Downie Capital, and Paul McIvor, managing director of AQS Ltd, have joined forces in an ambitious scheme to transform the 19,000 sq ft former Co-op outlet in East Ayrshire.

Subject to planning permission which was submitted in mid-September 2024, the project, run by Downie and McIvor Capital Ltd, will see the opening of a new Farmfoods, the Scottish frozen food and grocery business.

The proposed development will be called Loudoun Retail Park and is a huge boost for retail diversity in the Irvine Valley town, which lost the Co-op store in 2018 after a new Tesco supermarket opened nearby. In a time of transition to net zero, the development plans to incorporate eight much-needed Ultra rapid EV parking bays, hosted by Swarco.

Gareth Downie, a Chartered Accountant with a variety of business interests including property and development projects, said: “It will be great to be able to bring this building back to life and, more importantly, create a significant number of jobs within quality national retailers, re-establishing an important retail hub for the area.

“Paul and I both grew up in the Irvine Valley and I attended Loudoun Academy, just 500 metres from the site, and would go to the Co-op for my lunch. The Co-op closed in 2018 and had lain empty for six years until we purchased it.

“Farmfoods is taking 11,000sq ft of space and another 5,000 sq ft available which can be divided into three retail units and we’ve already had interest in these from a number of national retailers. There will be an additional 2,500 sq ft of office space at Loudoun Retail Park. We will also be using local contractors for all construction works and expect to create more than 60 long-term jobs.”

Downie and McIvor went out of their way to express their appreciation of the input of East Ayrshire Council, which, they said, has been highly supportive of the project.

David McDowall, head of economic growth at East Ayrshire Council, said: “Redevelopment of an existing vacant and derelict shop unit is the kind of economic regeneration investment which the Council has been actively encouraging, bringing national names into the retail mix of the town and in line with our Community Wealth Building principles creating job opportunities for the local community.

“This prime retail property is strategically positioned to attract significant footfall within the Irvine Valley corridor, with part of the site already let to Farmfoods. The development also features ultra-rapid EV charging stations, further enhancing the site’s appeal and sustainability. While the principal retail use of the site is established, the final development layout and aesthetic appearance and finishes will be subject to planning permission.

“As a council, we support inward investment and aim always to be positive about local development initiatives and have been pleased to work alongside Downie and McIvor Capital on this project.”

Gareth Downie added: “Galston may be a relatively small town, but its catchment area is much wider and there is a huge amount of passing traffic at Loudoun Retail Park – our analysis showed 24,000 daily car movements.

“We have 100 parking bays on our site, with a branch of Screwfix and Tesco adjacent to our site. Another benefit of the parking spaces available is the potential for click-and-collect and food delivery opportunities in the future to serve the rest of Irvine Valley.

“Closure of the Co-op has been detrimental to the prosperity of Irvine Valley, and, with the proposed revival of this significant retail site, we hope to see locals and people from further afield make use of Galston’s newly enhanced retail facilities.”