A major milestone in the transformation of Edinburgh’s Old Town will be reached this month (March 2015) when the city’s New Waverley development starts construction work linking it to the Capital’s iconic Royal Mile.Work on Artisan Real Estates Investors’ £150 million site, which lies at the heart of Edinburgh’s historic city centre, 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.
This significant development phase also includes retail, restaurant and bar opportunities on the ground floor of the Aparthotel. When complete, the Aparthotel will overlook a new £6.5 million 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 currently underway – identified by twin tower cranes on site. Work on the two hotels – a 127-room Premier Inn and a 121-room Hub by Premier Inn – began in November 2014 with a completion date set for mid-2016.
Welcoming this development milestone, Clive Wilding, Artisan’s Project Director, says: “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.
“We are now seeing New Waverley’s true scope and potential being delivered before us – a broad sweep of an historic part of the city integrating Edinburgh’s busy New Street and Market Street with Waverley Station and the Royal Mile.
“The new public square, with stunning views over Calton Hill, will form a vibrant hub for this flagship mixed-use development and its surrounding area, creating an entirely new destination for Edinburgh. With it, we are creating the very heart of our development – a vibrant and pedestrian-friendly urban centre mixing open public spaces with high quality homes and offices, as well as restaurants, shops and hotels linking directly to one of the most iconic streets anywhere in the world.”
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.”