One of biggest projects in Edinburgh
Haymarket: new images show striking transformation of key city site
The artist’s impressions of the Haymarket project, one of the city’s biggest mixed-use developments, indicate how the long-abandoned former rail goods yard close to the station will be transformed into a lively office, retail and leisure area.
Work has been under way for months strengthening the tunnels to prevent them from imploding when the work above ground began. Construction work has now begun with the first buildings earmarked for completion in 2017.
The land, which until recently was a boggy car park, is being developed by Edinburgh Haymarket Developments Ltd, a joint venture between Interserve and Tiger Developments. It is one of Edinburgh’s biggest commercial projects of the last 10 years and is expected to create around 3,500 jobs.
The site, which is currently raised high above ground, will be cleared to street level, completely changing the outlook around the busy junction.
Interserve Development Director, David Westwater said: “We are continuing to carry out strengthening works to the tunnels, but to see works commencing above ground is very satisfying and justification for all our hard work below.
“We are looking forward to an exciting 2015 where we will see The Haymarket really start to take shape, and are anticipating that our first office occupiers could be in place as early as the first quarter of 2017.”
Tenants already signed up for The Haymarket’s initial development phase include a Premier Inn Hotel, Q Park, Tesco and serviced apartments’ provider Staycity. Food chains Prezzo and Pret A Manger have committed to the second development phase and advanced discussions are currently taking place with other occupiers for a further 70,000 sq. ft. of retail and office space.
John Nesbitt, managing director of Tiger Developments, added: “Research shows that office occupier take-up in Edinburgh reached a 10-year high in 2014, resulting in a shortage of office accommodation. With the recent pre-letting announced to Standard Life Investments, it is clear occupiers will require to plan ahead if they are to secure modern office accommodation in the city centre.”
Agents JLL, WYM Real Estate and Dougray Smith are acting for The Haymarket. When complete it will include three contemporary office buildings offering around 320,000 sq. ft. of space designed to meet the fast-growing demand in Edinburgh for high-quality city centre space capable of accommodating large-scale occupiers on single floors.
There will also be a mix of retail, food and leisure including bars, cafes and restaurants. In total, The Haymarket has full planning consent for 404,000 sq. ft. of office accommodation and 60,000 sq. ft. of commercial and leisure space, together with a 165-bedroom hotel and a 320-space underground car park.