Haymarket hotel and shops development to be built in summer
A £200m development with hotel, offices and shops is to be built in Edinburgh's Haymarket in the summer, following several years of delay.
The large site has lain dormant for years due to a long-running planning battle then the economic downturn.
The development already has full planning consent and has the potential to create 3,500 jobs.
End Quote Adrian Ringrose Interserve
The proposals will act as a catalyst to regenerate the commercial heart of the area as well as create jobs”
Original plans for a 17-storey hotel next to Haymarket station were scaled down following local protests.
The project has now been resurrected after construction company Interserve came on board with the landowners Tiger Developments.
Interserve will initially invest £10.5m in the project while the construction contract is for £150m.
The project will bring together a mix of high-quality office, hotel and retail space.
Construction is likely to start near Haymarket station this summer, creating 250 jobs.
Tesco and serviced apartments provider Staycity have already signed up while food chains Prezzo and Pret A Manger have committed for the second phase of the development.
Detailed planning approval was granted in March 2011.Tram network
Adrian Ringrose, chief executive of Interserve, said: "Edinburgh's Haymarket site remains one of the best city centre development schemes to be found anywhere in the UK.
"It will provide a strategic gateway for the city centre, linking seamlessly with one of Scotland's busiest railway stations as well as being adjacent to the city's new tram network.
"The proposals for a mix of leisure, retail and office space, linked by open public spaces, will act as a catalyst to regenerate the commercial heart of the area as well as create jobs."
Simon Fox, development director with Tiger Developments, said: "Throughout the planning process we have worked hard to develop our proposals in line with the needs of the city and the local community.
"Our team has devoted a significant amount of time and energy so far in designing a scheme which now represents the best solution for this challenging site.
"So far we have received significant commercial interest in the site from a wide range of UK operators, on top of the existing tenants already signed up."