A plan to create a new boutique hotel and hospitality hub in Edinburgh’s Princes Street has been approved.

The £50million investment includes a restaurant and rooftop bar, a 207 Room upscale boutique hotel, spa, and a new pedestrian link between Princes Street and Rose Street.

The proposals include shopping, dining, hospitality, leisure, and public event space.

The public rooftop bar will look directly on to Princes Street Gardens and Edinburgh Castle and will help reinforce the city centre’s reputation as a “must visit” destination, the developer said.

The Herald: The rooftop view.The rooftop view.

Legal & General, which owns the three separate listed properties at 109 to 112 Princes Street, warmly welcomed the decision.

The plans have been "carefully designed to create an attractive destination for city residents and visitors to enjoy". The plans will also help deliver the city’s vision of creating a café culture’ on Princes Street and complement potential changes in one of Scotland’s most famous streets, it is claimed.

The Herald: The hospitality hub could be complete by 2024.The hospitality hub could be complete by 2024.

It comes after Legal & General carried out a major three-month public consultation on the proposals which received overwhelming support and has also attracted the active support of Essential Edinburgh – the city centre Business Improvement District, and Edinburgh’s Chamber of Commerce.

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As well as creating investment growth and jobs for local people, the plansare said to fulfil new planning guidance that seeks to enhance the vibrancy of Princes Street and the Waverley Valley.

Commenting on the decision today, Nida Rehman, development manager for Legal & General, said: “We’re obviously delighted with this decision which is both a vote of confidence in our proposals and in the future of Princes Street itself. We would like to thank the council who we have worked closely alongside for a number of years and the local business community which came out strongly in support of the proposals.

"This decision is another decisive step forward in the long-term relationship between Legal & General and the City of Edinburgh, and another example of our commitment to helping regenerate city centres throughout the UK.  The buildings at 109-112 Princes Street have a bright future again as a must visit destination and experience for this and future generations of city residents and visitors.

"There can be little doubt that the views from these magnificent buildings will be fantastic, but we are determined that the experience for people who come to visit, eat, shop, relax and simply spend time will be every bit as special.”

Commenting before the decision, Nida Rehman, development manager for Legal & General, said: "We have worked closely with the council to ensure our proposals match its vision for the future of Princes Street as well as the needs of local people and visitors.

"A sensitive repurposing will provide future-proofed, vibrant places while securing the heritage of these buildings. These proposals will help bring people back into the centre of Edinburgh, not least to enjoy some of the best views in the city and the first class experiences the new public spaces will create.”

Construction work could start in 2022 with completion in 2024.

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The Herald: The Stead’s Place site has been earmarked for development by the council since 2008.The Stead’s Place site has been earmarked for development by the council since 2008.

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The Herald: Stuart Patrick, chief executive of Glasgow Chamber of Commerce.Stuart Patrick, chief executive of Glasgow Chamber of Commerce. (Image: Jamie Simpson)

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