Kilmartin Property Group and the Bank of Scotland have secured the world’s first Missoni hotel concept for its joint development of the former Lothian regional council building in the heart of Edinburgh’s Old Town.
Operator Rezidor SAS, parent company of the Radisson group of hotels, signed a 25-year lease in the 120,000 sq ft mixed-use scheme on the corner of George IV Bridge and Lawnmarket.
The development will also house a Bank of Scotland retail branch, relocated from its headquarters building on The Mound, and additional retail and leisure fronting onto Victoria Street.
Construction is due to start this summer with completion scheduled for summer 2008.
The site is located in the heart of a UNESCO World Heritage conservation area, although the existing former council building was once voted the ugliest building in Edinburgh.
Kilmartin director, Nick Ball, said: “The development with Rezidor underlines the strength of the hotel market in Edinburgh, which remains one of the principle tourist destinations in Europe. The design that has now been agreed, whilst modern, is also deferential to its unique location.”
Kilmartin was represented by HBS International. Rezidor acted for itself.
References: EGi News 03/03/06
