THE Crown Estate is to give up control of land in Princes Street Gardens as part of an overhaul of its property management.
The organisation, which holds a property portfolio on behalf of the Queen, said it would transfer the land and some other assets in Scotland to Scottish organisations.
The city council is thought the most likely to be handed the five hectares of West Princes Gardens since it already leases the land from the Crown Estate.
Gareth Baird, the Crown Estate’s Scottish Commissioner, said: “The reforms we are announcing today acknowledge that we could have been more responsive to local communities in the past.
“They will ensure that in addition to delivering new inward investment, business and job opportunities in Scotland, our energy, rural and coastal businesses will be able to respond more effectively to the Scottish communities in which they operate.”