Artisan Real Estate Investors is making significant progress with its £150 million development at New Waverley, transforming one of Edinburgh’s most critical gap sites at the heart of the Old Town.
The seven and a half acre New Waverley site occupies a strategic city-centre location between Waverley Station and the Royal Mile. Artisan’s ambitious vision will see the area transformed into a vibrant pedestrian-friendly urban centre mixing open public spaces with retailers, restaurants, hotels and leisure offerings, as well as new homes and offices.
Currently, three major hotel contracts, providing 394 new hotel rooms, are under construction. Work on the site is now extending to a 146-apartment Adagio Aparthotel which will face directly on to the Royal Mile behind a retained façade of the C-listed Sailors Ark building. This milestone development phase also includes the start of works for the new £6.5 million public square linked to the Aparthotel, surrounded by 16,500 sq. metres of high-quality grade A office space and 28 new retail businesses including shops, restaurants and cafes.
Construction work on the initial development phase of two Whitbread hotels - a 127-room Premier Inn and a 121-room Hub by Premier Inn - began in November 2014, with a completion date set for Autumn-2016.
Occupiers appreciate the benefits of the city centre and the connectivity of being so close to the main line Waverley Station and the Transport Edinburgh network. Together with the City of Edinburgh Council headquarters and the Scottish Parliament, the Waverley Valley area is fast becoming one of the most important administrative areas anywhere in Scotland.
New Waverley is transforming one of Edinburgh’s most significant gap sites of the last 50 years, breathing new life back into the Old Town and reintegrating it with the rest of the city. As well as development benefits, the transformation will also open up significant community investment funding which will benefit the wider area.
To discover more about the New Waverley development, visit the development website. To register interest in this development please contact:
Clive Wilding, director, Corona Real Estate Partners.
T: + 44 (0)203 751 1203
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