Panoramic views and car parking
Office development to go ahead in central Edinburgh
The offices, funded by Hermes Investment Management, are off Morrison Street in the Exchange district. Capital Square will comprise 152,623 sq ft of Grade A open-plan office accommodation over eight levels.
There will be a new pedestrian route linking Conference Square with Festival Square as well as an upgrade to the Chuckie Pend alleyway.
A three-storey car park underneath the building will include 29 spaces for occupiers, 172 public spaces and 32 spaces which are being relocated from the Capital House surface car park. There are also 96 cycle racks.
The building will include a private landscaped garden and roof terraces on the upper levels to provide panoramic views of the city’s skyline.
Ian Cody, asset manager at Hermes Investment Management, said: “It is excellent news that we’ve achieved planning permission for this fantastic project.
“It is a crucial time in the Edinburgh property market with very little development currently under way despite a strong demand for new and high quality space. We therefore believe Capital Square will be key for Edinburgh in addressing this problem.
“We are very proud of the development and are confident it will be well received by the market – not just because of the high quality of the space and the flexibility it offers, but also for its excellent sustainability, design credentials and public transport links.
“It benefits from an enviable location which is not only in the highly desired Exchange district but is also next to the prime retail zone.”
Capital Square is expected to be completed and ready for occupation by early 2018. Lettings agents are CBRE and Montagu Evans.