Plans for serviced apartments, or short-term lets, on one of Scotlandās most famous streetsĀ are to go before councillors this week.
The holiday apartments plan is going to committee decision "given the significance of the issue of short-term lets to the public interest at present".
The proposalĀ to transform empty or underused property above the Willow Tea Rooms on Princes Street in Edinburgh, originally described the future offering as an aparthotel.
Council papers show the application is for a change of use on the second and third floors from food and drink to 14 serviced apartments to be operated and managed as one business.
"Given the significance of the issue of short-term lets to the public interest at present, the chief planning officer considers this application should be decided by committee,"Ā papers show.
"The proposal is for the change of use from a cafƩ to 14 serviced apartment units. The application is for the change of use only, any physical alterations associated with the change of use will require listed building consent.
"The application was originally submitted as a change of use to aparthotel. However, it was subsequently agreed to change the description to serviced apartments, with this considered a more accurate description of the proposal.
"The terms serviced apartment and STL are interchangeable for the purposes of this assessment."
The plans by the Thistle Property Holding Company areĀ to be discussed on Wednesday. The papers recommend the application beĀ granted.
Scots planning processes must be more attractive to investors
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OneĀ of Scotlandās most successful property developers has criticised Scotlandās planning system, saying it turning investors away and stifling theĀ economyĀ ā warning that those who do want invest will go south of the Border instead or overseas where the process is much quicker.
Urban regeneration specialist Chris Stewart said that investors may want to come toĀ ScotlandĀ but warned that investment in property is āvery connected to local and national government and policies more so that many other businesses because we rely local authorities to deliver roads consent, planning consent, building warrants and all those other bits and piecesā.
What are the costs of a comfortable retirement?
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This article appears as part of theĀ Money HQĀ newsletter.
We now have more information, more choices, and more responsibility for ourĀ retirementĀ savings. But will the future we want be the future we are able to get?
TheĀ Retirement Living Standards, launched by the Pensions and Lifetime Savings Association (PLSA), aims to help people picture what kind of lifestyle they could have in the future.
Pitched at three levels: minimum, moderate and comfortable, the standards have been designed to act as a practical and meaningful starting point for anyone who is unsure about how much they need to save.
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