One of Edinburgh’s most prolific streets is to see the creation of a new ‘hotel hub’ as part of a £50m regeneration project.
Princes Street in the city could see a new ‘upscale’ hotel built, complete with dining and shopping spaces plus a new rooftop bar with views across Edinburgh’s skyline.
The new hotel would also be home to a basement spa facility.
Legal and General plan to invest £50m into the project to support Edinburgh City Council’s vision of creating a ‘café culture’ on Princes Street. The new hotel would be among new fine and casual dining spots as well as a new ‘shopping close’ which would connect with Rose Street.
Cammy Day, Deputy Leader at Edinburgh City Council said: “Legal & General’s project promises to inject a huge amount of investment in our City and create brand new jobs at a time when we need it most.”
Matt Jarvis, Senior Fund Manager at Legal & General added: “As normality begins to return around the world, it has never been more important that we support the UK’s cities in continuing to adapt, change and innovate; supporting their economic recovery and continuing to promote them as attractive places to live, work and visit.
“Our vision for Princes Street will do just that, whilst securing these important buildings as a vibrant hub in the centre of one of the world’s great cities.”