Next steps in £150m Edinburgh Old Town project set to begin this month


A MILESTONE in what has been described as the transformation of Edinburgh’s Old Town is set to be reached this month.

Construction work is due to begin shortly on a link between the New Waverley development and city’s historic Royal Mile.

Artisan Real Estates Investors’ £150m project is continuing with a146-apartment Adagio Aparthotel which will face directly on to the Royal Mile, behind a retained façade of the C-listed Sailors Ark building.

NEW_WAVERLEY_DN01This development phase also includes retail, restaurant and bar opportunities on the ground floor of the Aparthotel.

Once completed, the Aparthotel will overlook a new £6.5m public square, also delivered as part of this phase of works, creating a vibrant central hub for New Waverley.

Construction work on the initial development phase of two Whitbread hotels with frontages on to East Market Street and Cranston Street is already underway.

A 127-room Premier Inn and a 121-room Hub by Premier Inn  began in November 2014 and is scheduled to finish in mid-2016.

Clive Wilding, Artisan’s Project Director, said: “The breakthrough to the Royal Mile marks a significant stage in the evolution of New Waverley, and its transformation of Edinburgh’s Old Town and the entire city centre area.”

He added: “We are working closely with the City of Edinburgh Council to create a community partnership to breathe new life into the area, using recently released funding.

“This includes arts projects such as the graffiti-based artworks on site hoardings and community events throughout the year.”