Proposals to redevelop a series of buildings at the point where Edinburgh’s west end and city centre meet has been confirmed, with the submission of plans to the council by Chris Stewart Group (CSG).
The Queensferry Street development will see a collection of "tired and unloved" historic buildings restored by the team behind the Advocate’s Close neighbourhood and The Edinburgh Grand hotel.
Following an 18-month long acquisition process, led by CSG in a joint venture with Souter Investments, architects 3DReid and engineers Buro-Happold have been appointed to work on designs.
The development aims to deliver mixed-use hospitality space for the area, building on the success of nearby regeneration schemes like the Johnnie Walker Experience.
CSG chief executive Chris Stewart commented: “Having spent almost two years working on the acquisition and vision for these buildings, we’re really pleased to be able to share our plans with the city.
“This prominent corner of Edinburgh city centre is home to a collection of buildings that have been neglected for some time - the designs we are proposing will enable significant physical and economic regeneration of these historic properties, providing them with a sustainable long-term future.
“The development also helps meet the council’s - and our own - net zero ambitions by making effective use of existing historic buildings.”
Calum Cusiter, co-managing director of Souter Investments, added: “The potential for these buildings in this location should be obvious to anyone who takes the time to stop and look.
“We’ve been speaking to Chris and his team for a number of years, having been impressed with the quality and success of their previous developments, and are delighted to be their joint venture partner on this project.”
CSG is working with Turley Heritage and Scott Hobbs Planning to progress the scheme.
The property investment firm owns a range of mixed use and hospitality assets across the UK market.
Founded in 1996 by majority shareholder Chris Stewart, CSG is currently on site with a flagship mixed use regeneration project in the centre of Glasgow, known as Love Loan.
Elsewhere, its previously completed regeneration projects include the Advocate’s Close development of centuries-old buildings in and around the Royal Mile, which are now 74 serviced apartments and a collection of restaurants and bars.
Also in Edinburgh, CSG tackled the former RBS headquarters on St Andrew Square to create The Edinburgh Grand hotel, with associated bars and restaurants.
Souter Investments is the private family investment office of Stagecoach Group co-founder Sir Brian Souter.
Its primary focus is private equity investments in unquoted companies, but selected allocations are also made to property.
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