Case Studies
The Prince's Regeneration Trust (PRT) – Anchor Mill, Paisley
The Textile Finishing Mill at the Anchor Mills complex was built in 1886 and was once part of a major industrial complex of more than 40 individual buildings constructed along the White Cart River.
It is a Category A Listed building and is prominently located in the medieval heart of Paisley Town Centre in full view of Paisley Abbey.
From the time Anchor Mill closed in the 1980s, Renfrewshire Council dedicated an expert team to lead its rescue and regeneration.
In January 1999, after several options had come to nothing, Renfrewshire Council requested the involvement of The Prince of Wales’s Phoenix Trust, now part of The Prince’s Regeneration Trust (PRT). It was their tenacious and pragmatic use of the planning system that provided the Phoenix Trust with the opportunity to rescue the mill.
The local authority granted Safeway Stores, the former owners of the building, planning consent for the development of brownfield land adjoining Anchor Mill on condition that they rescued the building. The agreement specified that £2.8 million (based on the estimated cost of putting the surviving fabric of the listed mill into a state of good repair) would be set aside by Safeway and dedicated towards the repair of the mill through the Phoenix Trust.
Phoenix then formed a partnership between the local authority, Safeway, Historic Scotland and Scottish Enterprise Renfrewshire, which in turn appointed a professional team to draw up detailed proposals for the regeneration of the mill to provide apartments, commercial space and parking.
Key to the success of the project was the funding package that the Phoenix Trust was able to put in place because of its charitable status. As a building Preservation Trust, Phoenix was able to treat the Safeway donations as gift Aid and hence amplify its value by reclaiming corporation tax paid on the donation.
This brought the total amount to be dedicated to the repair and rescue of the historic mill building to £4million.
Every partner has played an essential role in ensuring the success of saving Anchor Mill and there have been many ups and downs. Nevertheless, the principal partners, led tenaciously by Renfrewshire Council, the Prince of Wales’s Phoenix Trust, Historic Scotland, Scottish Enterprise Renfrewshire and James F Stephen Architects, with Persimmon as developer partner, are delighted to share the credit for the successful regeneration of Anchor Mill.
The President and Founder of PRT, The Prince of Wales, accompanied by The Duchess of Cornwall, celebrated the opening and occupation of the mill on 21st June 2005. Sales have been highly successful, creating a new market in Paisley for loft apartment living space and the first purchase of residence priced at £400,000. All apartments have now been sold.
The Trust is currently working on a rescue package to save Anchor Mill’s iconic listed pedestrian bridge.
Click here to visit The Prince's Regeneration Trust website.