MULTI-MILLIONAIRE Rangers chairman David Murray today unveiled plans for a £10 million development in the city’s Exchange.
His company Premier Property Group plans to build a five-storey office and retail block in Semple Street, Fountainbridge opposite the former Fat Sam’s building and the Scottish Widows HQ.
The firm intends to retain the listed facade of the histor
ic art deco Lothian House, but bulldoze an eyesore two-storey building and another to the rear to make way for the new office block.
More than 900 sq metres of retail space will be created on the ground floor with 3140 sq m for offices on the other floors of the proposed building, which has been designed by Edinburgh-based firm Michael Laird Architects.
The modern shop frontage on to Fountainbridge will be replaced with glazed and stainless steel panels, which will continue along Semple Street. The existing windows of Lothian House will make way for metal framed double glazed windows.
A planning application for the scheme has been submitted to Edinburgh City Council, although the proposal is not expected to be examined by councillors for at least three months.
But it is thought the project hinges on Premier Property Group striking a deal with other owners of Lothian House before work can even begin on the new block. The project follows the unveiling in August of £80m plans to demolish the historic former meat market- the old Fat Sam’s- to make way for three office blocks and two restaurants.
Hundreds of jobs are expected to be created in the development by Scottish Widows’ asset management wing, which owns the site.
Today, David McDonald, director of the Cockburn Association, said the street deserved a high-quality development.
"The entire neighbourhood around Fountainbridge is now a regeneration node and the Cockburn Association will be examining the proposals at its next committee meeting. Semple Street lies in an important part of the city and forms a link between Morrison Street and Fountainbridge.
"Looking to the future it is important that this planning application links with the general masterplanning process around Fountainbridge. Without joined-up thinking the city will not become a better place."
Local councillor Kingsley Thomas said he had already had early talks with the developer’s architects about the project.
He said: "They will retain the facade of the building, which is listed. I have seen the planning application and have had discussions with the architects.
"I need to see the impact of the building on the people living in Lothian House. There is a lot of development going on in Fountainbridge. Scottish Widows has put in a planning application. The Scottish & Newcastle site is about to be developed. Any development must be sympathetic to the local area and the residential nature of the area."
A spokeswoman for Premier Property Group said: "We have submitted a planning application. It would be inappropriate to comment further."
The group has already developed neighbouring Excel House, which it sold two years ago, and a corner of the Lothian House building, which includes the new Odeon cinema.
In the latter part of the 18th Century, the area, which was the termination point for the Union Canal, was made up of coal yards, iron works and workers’ housing. The canal was infilled in the 1920s which allowed the site and surrounding area to be developed.
In October, Mr Murray infuriated his neighbours on Edinburgh’s "Millionaires Row" with his plans to redevelop his £2 million home.
He has been given the go-ahead to demolish the Murrayfield mansion and replace it with a new art deco-style home. But a next-door neighbour was so upset he hired planning consultants to fight the tycoon’s plans.
Mr Murray, who made his fortune from metals, has lived in the house for around 20 years.
Earlier this year, Premier Property Group bought Princes Mall for £37m, paving the way for major investment and re-development there.
The full article contains 683 words and appears in Edinburgh Evening News newspaper.
