Edinburgh bus station: New 15-year lease approved

The bus station is owned by Coal Pension Properties, which was considering redeveloping the land on which it sits.

There had been concerns the city could resort to having coaches board and alight at kerbsides in the city centre until council officers negotiated a new lease agreement with the station’s owners last month.

There were fears the bus station might be forced to close. | TSPL

Edinburgh Council’s new lease on the property includes a significant rent hike, costing £350,000 per year for the first five years – up from the current rent of £223,525 per year.

There will be a 50 per cent discount on rent in the first year however. A council report said the city would attempt to raise funds to cover the rent increase, with evaluations underway for the installation of digital advertising.

Beyond this, the city will aim to reduce the running costs of the station and explore other ways to generate revenue from the site. It is looking to make income from the bus station cover the cost of rent by 2028/29.

The rent will be adjusted for inflation every five years, with the council also providing funding towards maintenance and upkeep of the adjacent public space on Multrees Walk.

A council official said it was hoped the St Andrew Square entrance to the bus station would be reopened by the end of the month. It has been closed for some time because the escalators were out of action and the official said sourcing parts for the escalators had been time consuming due to their age.

He continued: “With the new lease situation being confirmed, we can have a proper review of all the facilities within the bus station.

“Maybe we can start to renew some things we might have not done had we still been in the unknown position on what the lease might do at the end of 2027.”