The project will create a mixed-use site to incorporate commercial offices, retail units, leisure use, hotel accommodation and underground parking.
Interserve has formed a joint venture company with current landowner Tiger Developments to progress the £200m development of a site next to Haymarket station in Edinburgh. Interserve will initially invest £10.5m in the project with the follow-on construction works to a value of £150m being undertaken by Interserve Construction.
The project will bring together a mix of office, hotel and retail space with the potential to create 3,500 jobs.
Adrian Ringrose, Interserve CEO said: "Edinburgh's Haymarket site remains one of the best city centre developments schemes to be found anywhere in the UK. It will provide a strategic gateway for the city centre, linking seamlessly with one of Scotland's busiest railway stations, as well as being adjacent to the city's new tram network.”
Simon Fox, development director with Tiger, said: "Throughout the planning process we have worked hard to develop our proposals in-line with the needs of the city and the local community. Our team have devoted a significant amount of time and energy so far in designing a scheme which now represents the best solution for this challenging site.”
The Haymarket site is one of the city centre's last remaining major gap sites. Detailed planning approval was granted in March 2011 following an extensive consultation programme.
The construction project will be delivered by Interserve's local construction team, based in Livingston. Around 250 Interserve employees will work on the project – employed either directly by the company, or by its local supply chain and specialist sub-contractors.
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