Revamp planned for former SWIP offices in Edinburgh
Edinburgh One will undergo a redesign
The former offices of Scottish Widows Investment Partnership in Edinburgh will undergo a significant revamp after being acquired in a deal in excess of £22 million.
Odysseus Capital Management, based in the capital, is the new owner of Edinburgh One at 60 Morrison Street in the heart of the Exchange District.
A plan has been submitted to increase the floorspace from 54,000 sq ft to about 85,000 sq ft that will see two floors added, including a roof terrace, as well as a change to the facade.
The redesign, via Edinburgh architecture practice CDA, would see it exceed the sustainable requirements for office buildings.
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Dobson Scotland and JLL have been appointed joint letting agents for the proposed redevelopment. It is intended that the work will be complete by mid-2023.
The building was originally a speculative project and constructed with Merrill Lynch.
It was let during construction to Scottish Widows Investment Management which later merged with Hill Samuel Asset Management to create Scottish Widows Investment Partnership. SWIP became part of Aberdeen Asset Management in 2014. The building was subsequently sold to Matrix Securities.