New mixed used scheme for Edinburgh
One of the so called most “ugliest” buildings in Edinburgh is to be demolished and redeveloped into a mixed used scheme. Henderson Global Investors have been granted permission to redevelop the site in the St James Quarter at and estimated cost of £850m. There will be room for 90 retail outlets, over 1,000,000 sq ft of space, 160,000 square feet of office space, 250 residential units and two hotels.
Myles White, from Henderson’s UK Shopping Centre Fund, stated that even with the “challenging economic environment” this project would benefit the local area in terms of regeneration as well as potential investors who would see a good ROI. The redevelopment will include renovation of the St Andrew’s House office development which the company acquired along with the shopping centre from Donegall Place Investors in 2006.