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Scottish Provident demolition to take place immediately

February 17 2014

Scottish Provident demolition to take place immediately
Work to demolish Edinburgh’s B-listed former Scottish Provident building is to commence immediately following its acquisition by Standard Life Investments.

The financial giant has entered into a £75m joint venture agreement with Peveril Securities to develop the St Andrew Square property into a speculative 165,000sq/ft mixed use scheme offering a mix of grade A office space, retail and apartments.

This clears the way for work to commence on a Gareth Hoskins and CDA penned scheme for the site, which has blain in limbo for over five years.

David Stewart, fund manager of the Standard Life Investments Pooled Property Fund said: “This development is a terrific opportunity to capitalise on the current constrained supply and improving occupier demand within Edinburgh. The property is in an absolutely prime location and we will be creating a first class long term investment for our investors.”

A statement issued by Standard Life indicated that work is now expected to begin ‘immediately’ for completion by 2016.

#1 Posted by on 17 Feb 2014 at 22:43 PM
A quote to GHA which I feel sums up everything about this. "there is hope in honest error - none in the icy perfections of the mere stylist' CRM
#2 Posted by bonvivant on 18 Feb 2014 at 12:43 PM
That is truly monstrous, especially if you click on the pic and see it in its totality. Edinburgh really does deserve to have its unesco status looked at.
Kevan Shaw
#3 Posted by Kevan Shaw on 18 Feb 2014 at 13:23 PM
What has happened to proper "adaptive re-use?" The term seems to have become as perverted as "Value Engineering."

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