Edinburgh’s Quartermile urban regeneration scheme has signed up a coffee chain and wine bar as its latest tenants after reporting record annual results.
The mixed-use scheme, on the site of the former Edinburgh Royal Infirmary, said Caffè Nero and Veeno are due to open their doors early next year, joining existing stores and eateries including Nanyang, Peter’s Yard, Starbucks and Sainsbury’s.
The latest lettings come after Quartermile, acquired by property investor Moorfield in a multi-million pound deal three years ago, posted a pre-tax profit of almost £19 million for 2015, on turnover of £80m.
Paul Curran, managing director of Quartermile Developments, said: “Last year was one of extraordinary success. It reinforced Quartermile’s reputation as Edinburgh’s prime residential and commercial location and led to us being recognised for a record third time as the UK’s best mixed-use development.
“We have worked hard to ensure that the development has its own sense of place and purpose so it is immensely satisfying to see our vision being fully realised.”
Curran, who last month became chairman of the Scottish Property Federation, said last year’s results were boosted by major office lettings with technology groups Cirrus Logic and FanDuel, along with the sale of the listed Surgical Hospital building to the University of Edinburgh.
He added: “We remain very positive about the future thanks to Quartermile being firmly established as Edinburgh’s highest profile commercial and residential location, the city’s enduring global appeal and the excellence of our product.”
Construction work started this year on Quartermile 3, the final office building at the development. The £35m building will provide almost 73,000 square feet of Grade A office accommodation and is scheduled for completion by the end of next year.
Curran said that Quartermile Developments is now pursuing a number of other “high-profile development opportunities” across Scotland, including residential and mixed-use schemes.