Plans for the major renovation of the former Royal Bank of Scotland on St Andrew Square have been revealed, with a new set of luxury apartments forming part of the development.
The Edinburgh Grand, as it will be named, will comprise of 50 luxury apartments, a 200-cover bar and restaurant, located in the former banking hall, as well retail outlets.
The aparthotel will be run by Lateral City Apartments and will become the third property in the group’s portfolio, joining Old Town Chambers and Merchiston Residence.
The Edinburgh Grand is scheduled to open in the summer of 2017.
Alongside the serviced apartments, Bon Vivant will be operating a coffee house and evening venue.
Gavin MacLennan, general manager of Lateral City Apartments, said: “42 St Andrew Square is a building full of history and heritage, and after years of being closed off to the general public, we are extremely excited to be working on what will become the pride of the city when complete.
“Although relatively new to the market, Lateral City has firmly established itself at the higher end of the serviced apartment sector, with a number of awards recognising our unique approach. We’re looking to replicate our current ethos in The Edinburgh Grand, which will sit well alongside our existing properties – Old Town Chambers and Merchiston Residence – and will offer an increased variety of options amongst the city’s burgeoning serviced apartment sector.”
The development is being led by the Chris Stewart Group, which has previously been responsible for major developments across the city, including the award winning redevelopment of Advocates Close.