Proposals for the £50M regeneration of the former Debenhams store on Princes Street, Edinburgh have received unanimous approval at a City of Edinburgh Council planning committee meeting.
The proposals, which repurpose 108,000sq ft of vacant, obsolete retail space, were described as ‘setting the tone’ for the future regeneration of Edinburgh city centre.
The redevelopment, spanning three separate listed properties at 109 to 112 Princes Street, creates a new hospitality hub and boutique hotel on the famous street. Plans include a 207-room upscale boutique hotel and publicly accessible restaurant, lounge, spa and rooftop bar. The proposals will create a new pedestrian link between Princes Street and Rose Street and new shopping, dining, hospitality, leisure and public event space. The rooftop bar will look directly on to Princes Street Gardens and Edinburgh Castle.
Legal & General is delivering some of the UK’s most strategically important regeneration schemes that are fast transforming and reshaping Britain’s landscape, bringing jobs and services back into the centre of cities and better utilising existing infrastructure. The company’s responsible investment strategy, long-term view and ability to own and operate trading assets, make it uniquely positioned to maximise the Princes Street development’s social, environmental and economic contribution.
