ING received full planning permission from the City of Edinburgh Council yesterday for its £50m St Andrew Square mixed-use development in the city centre.
The scheme at the former headquarters building of Scottish Provident is located within Edinburgh’s New Town and World Heritage site, and was designed by CDA and Gareth Hoskins Architects.
ING plans to develop 60,000 sq ft (5,575 sq m) of retail and 100,000 sq ft (9,290 sq m) of office space on the south side of the square. It will also include luxury apartments.
Gareth Hoskins, managing director at Gareth Hoskins Architects, said: ‘The scheme is set to transform the heart of the World Heritage site and contribute significantly to the renewal of this quarter of Edinburgh. This will be one of the biggest developments in the city centre.’
Michael Daggett, a director at ING Real Estate Investment Management, said retail units of up to 70,000 sq ft (6,505 sq m). ‘This will provide the large retail space so badly needed and address the demand for well located, high quality office accommodation.’
The scheme will be completed by 2010.