Property group Stockland Halladale has bought
The site, formerly the HQ of insurance firm Scottish Provident, was sold by ING Real Estate and comprises six adjoining buildings along the south of the square.
The site comes with planning and listed building consent for a development of 92,000 sq ft of offices, 65,000 sq ft of retail over the basement, ground and first floors, and a small number of penthouse apartments
David Lockhart, executive chairman of Stockland Halladale, said: “This is an excellent acquisition for Stockland Halladale which will allow us to demonstrate our development credentials to create a landmark mixed use building in the heart of
Stockland Halladale was created in May 2007 through the acquisition of Halladale Group by Australian developer and investor Stockland.
Stockland Halladale’s portfolio under management is close to £1bn and it has a development programme to the value of over £500m.
DTZ and Culverwell & Company acted for ING Real Estate.
