Govt Supports Edinburgh Office Scheme With £8.9m Boost

The Scottish Government has awarded nearly £9 million towards an office space refurbishment project in Edinburgh.

The scheme at Greenside is being developed by the Chris Stewart Group and aims to provide 35,000 sq ft of Grade A office accommodation over five floors.

The building, which has been under-used for a number of years, forms part of a regeneration scheme in the east end of the city, located close to the St James redevelopment, the new Courtyard by Marriott hotel and the tram route.

The £8.9m investment, announced by Housing Minister Kevin Stewart at the Greenside site today, 28 February, is being made via the Government's Scottish Partnership for Regeneration in Urban Centres (SPRUCE) fund.


The fund has initially invested £50m in loan form towards regeneration and energy efficiency schemes across the country.

As these loans are now starting to be repaid, with some ahead of time, the investment can now be recycled and used to deliver further regeneration projects.

Minister Stewart said: "I'm really pleased to be here today to see the work to transform Greenside, perhaps better known in Edinburgh as the former headquarters of Scottish Equitable. When it's completed it'll provide modern, innovative and energy efficient offices on a UNESCO heritage site.

"But even before then we will see significant regeneration outcomes - during construction, the project is expected to support 39 apprenticeships and training opportunities. When complete, the building has a capacity to support 425 office jobs for local people.

"What makes this investment so exciting is that the SPRUCE fund has already provided £50 million to regenerate urban areas and it's been so successful, we have added a further £15m to the pot. SPRUCE loans are now being recycled with the repayments being used to deliver yet more new infrastructure, supporting the economy and jobs and transforming our communities for the better."

(LM/MH)