A Tory councillor has warned NAC’s bid to buy the Rivergate would bring risks to tax payers – after it was revealed the plan could be back before councillors this year.

Irvine West councillor Scott Gallacher said it was unlikely any of the Conservative group would vote for a revived bid for the centre – but welcomed the Labour group’s ‘Thatcherite’ desire to run a shopping centre. Labour have hit back saying that purchasing the mall was ‘municipal socialism’ in action, and that councillors who voted against it are ‘holding North Ayrshire back’.

As reported last week, Provost Ian Clarkson said NAC’s bid for the centre could be revived, if the price was lowered and if councillors who voted against it changed there minds.

Cllr Gallacher said: “If the current Rivergate owners are not being successful in attracting more ‘upmarket’ shops to the centre, why would NAC, with no previous experience whatsoever in this field, fare any better?

“The dubious promise of a cinema or food court many years down the line, does not offset this.

“Whilst it is most welcoming that Joe Cullinane and his comrades together with the Irvine SNP, are now at desperation stages to adopt Thatcherite policies of commercial property ownership and capitalist business plans, it is not an idea that I think is in the best interests of the ratepayers of North Ayrshire at this exact point in time.”

Irvine South Labour Councillor Robert Foster said: “The proposal to buy the Rivergate was not one that put a financial burden on the council, it brought in much needed funding.

“The profits from the Rivergate are tied to the value of the leases. All councillors were presented with a pessimistic view of the likely profits and even then we were looking at over £12million of new investment being created. It could have been more. It also helps that the council can access lower borrowing rates.

“Taking ownership of local assets like the Rivergate and using the profits to invest in the local area is municipal socialism in deeds not words. The Tories, independents and the more right wing faction in the SNP Group all voted to keep profits from the Rivergate going abroad rather than being invested in local regeneration projects.”