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Former bank HQ expected to trigger bidding war

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February 15 2007

The former Royal Bank of Scotland head office building in Edinburgh has gone on the market, sparking interest in converting the site into a five-star hotel.

The St Andrew Square building is up for offers over £10 million - with an estimated £10 million necessary to transform the building into a hotel – and is expected to trigger a bidding war with developers keen to convert the building into retail and office space.

City Council leader Ewan Aitken has expressed his support for retail and office schemes due to a lack of city centre retail space in recent years and because of the numerous “hotel developments that are being planned.”

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