Planning permission has been granted for the regeneration of the St James shopping centre in Edinburgh, which is set to include a brand new luxury hotel.
Permission was granted to TH Real Estate by the City of Edinburgh Council for an £850m mixed use scheme, which will include 750,000 sq ft of retail space, a luxury hotel, up to 250 new homes, 30 restaurants and a cinema.
The decision marks a major milestone for the development, which is set to become one of the largest regeneration projects currently underway in the UK.
The hotel – which will include up to 210 bedrooms, a restaurant, multiple bars and a rooftop terrace – is already attracting the attention of “major international hotel brands”, according to the investment management company.
Planning permission for the hotel on the site has not yet been granted, although it is hoped that the permission will be granted when the design goes before the City of Edinburgh Council later this summer.
Martin Perry, director of development at TH Real Estate, said: “We are absolutely delighted that the City of Edinburgh Council has backed our vision for Edinburgh St James. We are now focused on the next phase of our plans for this landmark development – providing Edinburgh with a brand new, vibrant and exciting place to live, visit and shop in the heart of the city.”
Demolition works on the site are expected to begin in early 2016, with the final project predicted to be complete in 2020.