June 10 2009
Edinburgh City Council had placed great hope on scooping a tidy £7.9m from Henderson Global investors and their St James Centre redevelopment. When push came to shove however the council were only able to prise £1.4m from the reluctant hands of the global asset managers.
The measly sum follows slim pickings from other capital projects, notably the Morrison Goods Yard Project and a hotel development on Princes Street where Deramore dodged making any contribution at all.
Council leaders are now being forced to borrow in order to honour their commitment to a £45m share of tram costs.
Back to June 2009
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