Quartermile Edinburgh, the £400m redevelopment of Edinburgh’s former Royal Infirmary, has been given the go-ahead.
Bank of Scotland’s joint venture with Kilmartin Property Group and Taylor Woodrow received planning permission from Edinburgh council this week to build 650 homes, 500,000 sq ft (46,450 sq m) of offices, 78,000 sq ft (7,246 sq m) of shops, leisure facilities and five-star hotel.
The council has twice deferred granting permission for the site after criticising the amount of affordable housing and elevation of the planned offices.
The 19-acre (7.69ha) site is located on the former Royal Infirmary site at Lauriston, Edinburgh which the joint venture, known as Southside Capital, bought from the Lothian University Hospitals NHS Trust in June 2001 for £33m.
Andrew Brooks, development director of Southside Capital, said: “Not only will it bring an annual boost of £135m in revenue to the city and its businesses, it will also help rejuvenate the whole area with a new residential and business community.”
The scheme, which is due for completion in 2010, has been referred to the Scottish Executive.
References: EGi News 25/07/03
