Funds boost for Haymarket yard redevelopment

The Haymarket goods yard will be redeveloped. Picture: Bill Henry
The Haymarket goods yard will be redeveloped. Picture: Bill Henry
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DEPUTY First Minister Nicola Sturgeon was visiting Haymarket today to announce a multi-million pound investment in the redevelopment of a former goods yard which is set to create thousands of jobs.

The £200 million project will transform the long-standing four-acre gap site next to Haymarket Station into 400,000sq ft of office accommodation and 60,000sq ft of commercial and leisure space, together with a 165-bedroom hotel and a 320-space underground car park.

The cash announced by Ms Sturgeon comes from the Scottish Government and the European Regional Development Fund.

It will help fund the first phase of work, already under way, which includes site preparation and the strengthening of two railway tunnels as well as archaeological excavations.

The project, known as The Haymarket, will involve around 300 jobs during construction.

And when complete the joint venture between Interserve and Tiger Developments is forecast to create around 3200 jobs. Tenants already signed up include Tesco, Pret A Manger and Prezzo, as well as apartment-hotel operator Staycity.