Ok, not The Gyle
“
Ownership[edit]
Gyle Shopping Centre opened in October 1993. The centre began as a joint development between Edinburgh Council, Marks and Spencer and Asda, although by the time of opening, Asda was replaced by Safeway. In 1997, Gyle was purchased outright by Marks and Spencer, who then sold the centre to USS in March 2000.[8]
Ownership of the centre changed again in late 2020 or early 2021. A failed planning application to expand the food court and add a cinema to the centre has hit the complex hard, along with the pandemic. [6]
In August 2023, the centre was acquired by Capital & Regional for £40 million.[9]
“
https://en.wikipedia.org/wiki/The_Gyle_Shopping_Centre
“
Capital & Regional plc is a large British manager of property assets - mainly shopping centres - for funds in which it has a significant stake.
“
https://en.wikipedia.org/wiki/Capital_%26_Regional
“
The centre will be accretive to income from day one, with the agreed price representing a significant discount to the replacement cost and providing us with a highly attractive entry point from which we can create value. In addition, we have arranged terms with Morgan Stanley to staple debt to the acquisition at a 40% LTV capped at a cost of 6.5% fixed for 5 years.
“
https://capreg.com/media-centre/news/acquisition-of-the-gyle-shopping-centre/
So, in short, it’s about money.
Might be reasonable to speculate/suggest they could make more money with a housing development, but more effort.
A significant tax on parking spaces might help change their minds.
BUT
‘Think of the hard pressed motorists who can’t understand a bus timetable’.