Office demolition

New homes planned for former city bank site

State Street offices
State Street offices: plan for new development

An Edinburgh office development, formerly the Scottish base for State Street Bank, will be demolished and replaced by homes under plans put out for public consultation.

The site in Ferry Road, close to Crewe Toll, is one of Edinburgh city centre’s largest development sites and the offices are largely unoccupied following the US bank’s relocation in 2018.

Regeneration specialists Artisan Real Estate has formed a joint venture company with fund manager REInvest Asset Management to redevelop the former Deutsche Bank House.

The team behind the new development, to be known as 525 Park View, includes Edinburgh-based 7N Architects. A planning application is anticipated for early 2023.

Artisan’s regional director for Scotland, David Westwater, said: “This is an exciting opportunity to create a long-term sustainable future for what is a predominantly redundant building and bringing a new community to an accessible city centre site. 

“Our initial ideas will be guided by sustainability and low-carbon design and encompass a mix of development, led mainly by residential as well as much-needed affordable housing and ancillary commercial uses.” 

Artisan Real Estate was behind the New Waverley development off Canongate in Edinburgh’s Old Town.

REInvest Asset Management was founded in Luxembourg and currently manages and develops properties across Europe with a value in excess of €2.3 billion.

525 Park View is held in a progressive property fund within a pan-European portfolio managed on behalf of a German insurance group.

One Comment to New homes planned for former city bank site

  1. This is not an unoccupied building as you say. I work in this building. There are over 60 charities and small start up buisnesses in this building who will be hugely impacted by this proposed demolition and will also impact the community negatively not having these charities in the area.

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