Edinburgh Princes Street plans submitted for new 300-bedroom Ruby Hotel
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Plans have been submitted for a new 300-bedroom hotel in Princes Street which the developers say represents one of the biggest-ever investments in the famous thoroughfare.
Ruby Hotels are seeking permission for their first luxury hotel in Scotland at 104-108 Princes Street. They have already held a public consultation on the proposals and are now hoping the council will grant planning permission. The £100 million project also includes retail space on the ground floor where Zara, Next and Russell & Bromley used to be located.
Hunter Real Estate Investment Management, Ruby Hotels’ partner in the development, said it would be the largest single investment in Princes Street since the Johnnie Walker Experience opened in September 2021. Subject to planning approval, it is hoped work can start on site next year with the hotel earmarked to open in 2026.
The proposed hotel includes a rooftop bar with stunning views across Princes Street Gardens, the Ross Theatre and to Edinburgh Castle. The project is expected to create more than 150 jobs during construction and over 250 permanent jobs once the hotel and retail space are operational.
Speaking about the proposals Julian Mors, group director of Ruby Hotels, said: “Edinburgh is one of the most vibrant tourism destinations in Europe and Ruby Hotels looks forward to creating a must visit destination for residents and visitors in the heart of the city. We’re delighted to be able to bring the Ruby brand of affordable luxury to Scotland’s capital.”
The hotel plans come as Princes Street recovers from a series of major shop closures prompted in large part by the opening of the new St James Quarter and the move by many stores from their traditional home to the new shopping centre. Several other vacated premises are also due to be redeveloped as hotels.
Andrew Moffat, managing director of Hunter REIM, said: “This is the biggest investment in Princes Street since the fantastic Johnnie Walker Experience. We’ve been delighted at the support and enthusiasm we’ve seen to transform Princes Street, which like many shopping destinations, has suffered from a changing retail landscape as well as the impact of the global pandemic. We’re confident our proposals will help Princes Street turn a corner and help restore the vibrancy of Edinburgh’s most famous of streets.”
And Roddy Smith, chief executive of Essential Edinburgh, said the proposals would be “a welcome boost” to Princes Street and Edinburgh. He said: “We’ve worked in close partnership with the city council to tackle the impact that the shift to online retail has had on Princes Street and the city centre. These proposals are the latest in a wave of new development in the city centre, which has bounced back quicker than any other city centre in the UK outside London. Whilst there’s no room for complacency, it’s delivering investment like this that will make Princes Street even stronger and more vibrant.”