Plans for the redevelopment of a vacant office block in central Edinburgh are to push ahead after the site was acquired by a joint venture involving Standard Life.
Developers of the former Scottish Provident building on St Andrew Square, pictured, said yesterday they would invest some £75 million creating a “high-quality” mixed-use scheme, featuring office space, retail units and a number of exclusive apartments.
Proposals for the site, which has been unoccupied for almost a decade, were outlined in December by then-owner Stockland. However, they faced objections from heritage groups and prominent architects.
The building was designed by William G Leslie of Rowand Anderson, Kinimonth & Paul. It is highly regarded as a fine example of Brutalist architecture among many conservationists.
Standard Life Investments entered into a joint venture agreement with Peveril Securities to acquire and develop the site.