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TH Real Estate’s £850m Edinburgh St James regeneration granted planning consent

Edinburgh St James

TH Real Estate has been granted planning permission by the City of Edinburgh Council for its £850m mixed-use Edinburgh St James scheme. This pivotal decision marks a major milestone for this transformational development, which is one of the largest regeneration projects currently underway in the UK.

The City of Edinburgh Council Planning Committee has approved Primary Reserved Matters, Secondary Reserved Matters and a John Lewis detailed application for the 1.7 million sq ft (157,935 sq m) development project.

The approved designs, by Edinburgh-based Allan Murray Architects, will see the 1970s shopping centre currently on site replaced with 750,000 sq ft (69,677 sqm) of retail space, a luxury hotel, up to 250 new homes, 30 restaurants and a multi-screen cinema.

It is hoped that planning permission for the scheme’s luxury hotel will be granted when the design goes before the City of Edinburgh Council later this summer. As the centrepiece of Edinburgh St James, this iconic building will affirm Edinburgh’s position as a global destination and is already attracting the attention of major international hotel brands. Overlooking St James Square and creating a new landmark building for the city, the hotel will include up to 210 beds and will feature restaurants, bars and a rooftop terrace at uppermost levels.

Looking further ahead, subject to the successful resolution of the Compulsory Purchase Order (CPO) scheduled for September, the project team is working towards a January vacant possession of the St James Centre, to enable demolition works to begin onsite in early 2016. Edinburgh St James is anticipated to complete in 2020.

Martin Perry, Director of Development, TH Real Estate, commented "We are absolutely delighted that the City of Edinburgh Council has backed our vision for Edinburgh St James. We are now focused on the next phase of our plans for this landmark development – providing Edinburgh with a brand new, vibrant and exciting place to live, visit and shop in the heart of the city."

Disclaimer
This press release intended for trade press only. Please do not redistribute. Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services


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