First glimpse of £200m Haymarket development

An artist's impression of the Haymarket development. Picture: contributed
An artist's impression of the Haymarket development. Picture: contributed
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THESE striking images provide the first glimpse of a new 
£200 million development as work begins above ground.

Contractors have been at work strengthening the Victorian railway tunnels running beneath the Haymarket site – a four-acre plot which has lain derelict for decades – which will include three office buildings, leisure space and a hotel development.

The new development at Haymarket.

The new development at Haymarket.

The Haymarket – which is a joint venture between Interserve and Tiger Developments – is one of the Capital’s largest commercial projects in the last ten years and is expected to create around 3500 jobs.

David Westwater, Interserve development director, said: “We are continuing to carry out strengthening works to the tunnels, but to see works commencing above ground is very satisfying and justification for all our hard work below.

“With excellent access to train, bus and tram networks, the benefits to potential occupiers are being increasingly recognised.

“We are looking forward to an exciting 2015 where we will see The Haymarket really start to take shape, and are anticipating that our first office occupiers could be in place as early as the first quarter of 2017.”

Tenants already signed up for the initial phase include Premier Inn Hotel, Q Park, Tesco and serviced apartments provider Staycity while food chains Prezzo and Pret A Manger have committed to the second development phase.

John Nesbitt, managing director of Tiger Developments, said: “Research shows that office occupier take-up in Edinburgh reached a ten-year high in 2014, resulting in a shortage of office accommodation.

“With the recent pre-letting announced to Standard Life Investments, it is clear occupiers will require to plan ahead if they are to secure modern office accommodation in the city centre.”

The first phase is set for completion in 2017.