Developers have abandoned plans to replace a former electronics superstore in Aberdeen with a block of flats.
Last year, Raglan Development announced proposals to demolish the abandoned Currys PC World shop on Hutcheon Street to make way for a huge block of student accommodation, flats and serviced apartments comprising 650 beds.
The firm filed an application notice with Aberdeen City Council and a public exhibition was held last June, but the plans did not proceed any further.
And last night, a Raglan spokesman confirmed that “changes in the market” mean the scheme will not go forward.
He said: “The circumstances of the market have changed and we have decided not to progress with the application at present.”
George Street Community Council welcomed the about-face, saying that the site could provide space for badly-needed affordable housing in the area.
Chairwoman Michelle Macleod said: “We are swamped at the moment with big student accommodation complexes going up.
“People want to see more affordable housing, as that is very few and far between in this part of the city.
“There is a big space there that could be ideal for it, but I worry that is not as commercially lucrative for developers so I won’t hold my breath.”
Currys PC World left the 48-50 Hutcheon Street site about two years ago.
The vacated building is now used by the Forces Support charity, which raises funds by selling second hand goods there.
