Work has begun on a major speculative office development to the west of Edinburgh city centre.
Parabola, the developer and investor which own 43 acres of undeveloped land to the south of the existing Edinburgh Park, said its contractor, Sir Robert McAlpine, had now commenced work on 1 New Park Square.
The first phase of the vast project includes one million square feet of high quality offices, a new public square, sports and leisure facilities, including football pitches and tennis courts, shops, bars, restaurants, a health centre and “extensive” landscaping. There is also to be a performance arts space as part of the masterplan.
The 1 New Park Square office development, which will be capable of operating carbon and emissions free, extends to some 85,000 square feet and is due to complete in summer 2021.
Thousands of jobs
The economic development potential for the first phase of Parabola’s plans is estimated at creating nearly 5,500 job opportunities. Studies into the overall potential of the site when fully developed estimate that up to 7,000 job opportunities will be realised when the new quarter is complete.
Peter Millican, owner and founder of Parabola, said: "Parabola is delighted that we shall be starting work on the first phase of this vital new quarter of the city.
"We are working with a world-class team and expect to deliver a world class place at Edinburgh Park. Sir Robert McAlpine have a great pedigree in constructing some of the country’s finest places."
Parabola’s managing director Tony Hordon added: "We have a wonderful opportunity now to deliver an exemplar in commercial space and public realm so desperately needed by the city.
"We know from the interest shown by prospective tenants that there is a great deal of excitement and enthusiasm for the realisation of Parabola’s plans for Edinburgh Park."