Construction begins on Edinburgh’s £150m New Waverley
November 6 2014a £150m mixed use development in Edinburgh’s Old Town, with McAleer & Rushe commencing delivery of two Premier Inn hotels, earmarked for completion by 2016.
To mark the start graffiti artists have been commissioned to create a half kilometre long collage spanning the perimeter hoardings of the seven acre site, notably a row of exposed arches along East Market Street.
Designed by Alan Murray Architects the master plan will ultimately play host to 16,500sq/m of office space, 28 shops, a community centre and 185 flats – all arranged around a central public square.
Lukas Nakos, managing director of developer Artisan Real Estate Investors, said: “We are now starting to create, in the very heart of Edinburgh, an exciting and vibrant mixed-use community which will set an international benchmark for sensitive and innovative development.
“We have seen commitment from three major hotel brands, bringing in more than 400 rooms for central Edinburgh. And we are also receiving significant interest from the food, beverage and restaurant sectors - particularly around existing areas of the development such as The Arches - ahead of the office launch in the New Year.”
A 146 room Adagio Aparthotel is currently out to tender and will move on site before the year is out.
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