Hermes Real Estate has submitted a detailed planning application for a city centre site in Edinburgh.
The land, which sits at the heart of The Exchange office district, includes the redundant Skypark building, land owned by the Sheraton hotel and the Capital House surface car park.
The proposal would create 122,000 sq ft of office accommodation over seven floors.
A new pedestrian route linking Conference Square with Festival Square would also be provided, as well as an upgrade to Chuckie Pend to make it a level, well-lit area for pedestrians.
Ian Cody, asset manager at Hermes Real Estate, said: “Edinburgh had lost 735,000 sq ft of office space over the last two years to alternative uses, with Quatermile 4 the only office building currently under construction. Grade-A office space has a vacancy of 1.1% and grade-B office space a vacancy rate of 0.8%.”
Hermes Real Estate has appointed Parlison Properties as development manager for the project; Montagu Evans and CBRE have been appointed as office letting agents.
