Scottish Provident demolition to take place immediately
February 17 2014
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.
Back to February 2014
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