Joint venture gives green light to demolition of B-listed building.
Work to demolish Edinburgh’s B-listed former Scottish Provident building is to commence immediately following its acquisition by Standard Life Investments.
The financial giant has entered into a £75m joint venture agreement with Peveril Securities to develop the St Andrew Square property into a speculative 165,000sq/ft mixed use scheme offering a mix of grade A office space, retail and apartments.
This clears the way for work to commence on a Gareth Hoskins and CDA penned scheme for the site, which has lain in limbo for over five years.
A statement issued by Standard Life indicated that work is now expected to begin ‘immediately’ for completion by 2016.
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