News Item
FINAL PIECE OF EDINBURGH’S EXCHANGE DISTRICT FALLS INTO PLACE
20 Dec 2005
EDINBURGH’S FINANCIAL DISTRICT TO BE COMPLETED AS
191,000 SQ FT OFFICE DEVELOPMENT AND CONFERENCE CENTRE EXPANSION PLANS LODGED
CALA Properties and AWG Property have joined forces to bring the stunning new Site HI office development - valued in excess of £80 million - into reality.
CALA-AWG Ltd today submitted a planning application to City of Edinburgh Council, continuing the process which will see Site HI an impressive 191,000 sq ft office development, created in the heart of the city’s Exchange district.
Site HI marks a milestone for the Exchange and for the city of Edinburgh, as this is the last development site in the Exchange district, and will complete a project started back in 1986 between the public and private sector.
The site lies adjacent to the Edinburgh International Conference Centre (EICC) and, as part of the project, the EICC will be expanded to create a further impressive auditorium capable of accommodating 1600 people, and 11 additional breakout rooms.
EICC, which returns economic benefit to Edinburgh and Scotland of more than £23m a year, is set to gain 35,056 sq ft of additional revenue earning space, largely below street level. Included is a 17,232 sq ft main hall with a computer controlled moving floor, capable of transforming from flat-floored exhibition or banqueting space to a tiered seating auditorium or arena.
Site HI completes the original masterplan for Edinburgh’s bustling financial district at The Exchange. Since work first started on The Exchange in 1986, over 1 million sq ft of office space has been delivered, accommodating 13,000 jobs.
The seven storey office development will provide flexible space capable of accommodating a range of tenants, and its city centre location makes it an ideal base for expanding companies. The area already accommodates the headquarters of nine multinational businesses in the financial and professional services industries including Scottish Widows, Cairn Energy Plc, Standard Life Bank and Clydesdale Bank.
The development will feature open plan space with large, flexible floorplates. As well as an impressive reception and atrium, the ground floor will include 4000 sq ft of retail space.
Stewart Mackay, representing CALA Properties added: “CALA Properties and AWG Property have completed a number of successful joint venture projects in the past including Clydesdale Bank Plaza and Exchange Crescent in the Exchange district. Site HI completes the vision for an important part of the city.
“We firmly believe Site HI is a win-win project for the EICC and Edinburgh as a whole. The conference centre will receive unique additional function space, and the city will be given impressive, top quality office accommodation which will support thousands of jobs and help pump millions into the local economy.”
Paul Devine, Director of AWG Property said: “This is an exciting phase of the development.
“The project has been under development for some time and it is tremendously satisfying to finally submit the plans to the council.
“As part of our work to bring this outstanding project to this stage, we have been conscious of the need to ensure our design is sensitive to the surrounding area.”
City of Edinburgh Council, leader, Councillor Donald Anderson said: “This is a very welcome development for Edinburgh’s conference offering. It will enable the city to compete for world-class conferences and events for decades to come.
“EICC was the first building on the Exchange business district. Now as a major part of the last available development opportunity, it sets an admirable track record.”
EICC Chief Executive Hans H Rissmann said: “International conferences heading for Edinburgh are getting bigger as the city continues to grow in popularity as an accessible, safe and inspirational meetings location.
“What we propose as an expansion to EICC will be irresistible in the global marketplace we serve.”
Notes to editors:
1. The Exchange is Edinburgh’s financial heartland and covers some 9-acres with the EICC as the lynchpin of the area. Originally master planned in 1986 by the City of Edinburgh Council, the ‘Exchange’ is a fine example of partnership working between the public and private sectors with some 1 million square feet of office space delivered, including major corporate headquarters and has raised Edinburgh to be second only to London in the UK as a financial powerhouse.
2. CALA-AWG Ltd developed phase one of the Exchange – Clydesdale Bank Plaza and Crescent – a £70 million development delivering 215,000 sq ft across a land mark office development and a 6-storey sweeping office crescent. The joint venture has also worked in partnership to deliver the £13.9 million refurbishment of the prestigious 151 West George Street office development in Glasgow.
3. CALA Properties is a successful and ambitious company developing, managing and investing in commercial property across the UK. Named “Scottish Developer of the Year 2005” at the annual Scottish Property Week Awards, CALA Properties also won the award for “Commercial Development of the Year” for their 96,000 sq ft office development, Central Exchange in Glasgow city centre. More information can be found at www.cala-properties.co.uk
4. AWG Property Limited is one of the leading property Development and Investment companies based in Scotland and manages a property portfolio with an aggregate end value on completion of £700 million including all joint ventures in the UK. Further information can be found on www.awgproperty.co.uk
5. EICC Limited operates Edinburgh International Conference Centre (EICC) and has City of Edinburgh Council as its sole shareholder. Since opening in 1986 EICC has staged 1,899 events, attracted 615,120 delegates, including 133,123 from overseas, counted 1,374,175 delegate days and delivered and economic impact for Edinburgh and Scotland of £164m / €240m. www.eicc.co.uk
6. The total development scheme is an architectural collaboration between Farrell Partnership and Building Design Partnership (BDP).
Issued by the BIG partnership on behalf of CALA-AWG Ltd.
For more information, please contact:
Gavin Cameron, the BIG partnership 0141 333 9585
Ian Flynn, AWG Property Limited, Marketing Manager 0131 200 4429
Susan Macrae, CALA Properties Ltd, Marketing Manager 0131 535 5200
John Gerrie, Edinburgh International Conference Centre 0131 338 6878
| PR CONTACTS FOR CALA PROPERTIES | |
CALA Group Limited tel: 0131 535 5200 |
Reay Public Relations Ltd. tel/fax: 01369 840042 |
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