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Edinburgh Haymarket Developments Ltd (EHDL), a joint venture between Tiger Developments Ltd and Interserve, has confirmed that it has agreed terms for the sale of tHe Haymarket Edinburgh development site to major UK institutional fund.
tHe Haymarket is one of the largest and most significant regeneration project to become available in Edinburgh in over a decade.
The three-acre site mixed-use scheme has planning permission for three contemporary office buildings (370,000 sq. ft. /34.5,000 sq.m), retail space, a 190 bedroom hotel and a 170 unit apart-hotel.
The site is situated next to Edinburgh’s Haymarket train station and tram stop connecting to Edinburgh International Airport.
John Nesbitt, Managing Director of Tiger Developments, said:
“Edinburgh Haymarket Developments Ltd (EHDL), a joint venture between Tiger Developments Ltd and Interserve, can confirm that it has agreed terms for the sale of the prestigious tHe Haymarket Edinburgh site with a major UK institutional fund following a competitive sales process and a separate agreement with Tiger Developments Ltd and Interserve. Tiger Developments Ltd and Interserve will now step away from the project following the conclusion of the sale.
“The successful and highly competitive sales process is testament to EHDL’s vision to develop a challenging site and the completion of the significant and technically advanced groundworks.
“We are pleased that the development has achieved such a successful sale and we are confident that the outcome is in the best interests of this landmark development for the Scottish capital.
“While we are unable to release details of the successful purchaser at this stage, we wish the new owner every success in its new endeavour.”