Lloyds abandons plans for new Edinburgh headquarters

image captionThe Lloyds Banking Group has ditched the new HQ plans

Plans to build a giant Halifax Bank of Scotland headquarters in Edinburgh have been abandoned.

HBOS bought the 13-acre former Fountain brewery site two years ago for a reported £100m.

It had hoped to create a prestige HQ alongside the Union Canal and relocate staff from eight other offices in the capital.

But since HBOS nearly collapsed and was taken over by Lloyds, the new bosses have ruled out that plan.

Instead, they are applying for permission to build a mixed development on the brewery site.

This could include offices, a hotel, a care home and student housing.

It is understood that the property will then be put up for sale.

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