ING Real Estate to sell on Andrew Square site

      ING Real Estate Investment Management is selling on central Edinburgh’s 3-8 St Andrew Square, five months after gaining consent for a £100m redevelopment.   The site, which makes up the southside of St Andrew Square in Edinburgh’s business district, gained detailed consent in May for 91,100 sq ft of offices, 68,500 sq ft of retail, and a small number of exclusive apartments.    The scheme involves the demolition of the former Scottish Provident HQ on the site, with a grade-B listed building designed by modernist architect William Kininmonth retained as the centrepiece.   The site was acquired by ING in 2005, as part of the £1.3bn Abbey portfolio purchase and has been vacant since 2004. ING has instructed DTZ and Culverwells to market the scheme.   Michael Daggett, fund manager at ING (UK) Property, said: “We are delighted that we have been able to work with Edinburgh City Council and Historic Scotland to produce such an exciting design for this landmark site.   “It is now time for a new owner to pick up the baton and take the scheme forward to fruition, both as the first phase of the re-vitalisation of Edinburgh’s retail offer and as the site of a new destination office complex.”   paul.norman@rbi.co.uk