Developer hands over ahead of time and on budget
The developer behind an award winning £240 million regeneration scheme in New Waverley , Edinburgh today [13 June 2019] marked the completion of the UK Government Hub development with a ceremonial key handover to the Secretary of State for Scotland, David Mundell MP.
Part of the New Waverley place-making master plan – delivered by Artisan Real Estate – the UK Government Hub handover marks a key milestone at one of the UK’s most important city-centre regeneration sites, located in the World Heritage Site of Edinburgh’s Old Town.
The Hub, a seven-storey development spanning 190,000 sq. ft. of Grade A office space, will welcome circa 3,000 civil service employees into the heart of the Old Town in Spring 2020. It comprises two interlinked office buildings and is designed to provide the highest levels of sustainability and operational efficiency.
Commenting on the handover, Clive Wilding, Artisans Property Director said:
Place-making was at the heart of our plans for this iconic site from the very beginning. With the UK Government Edinburgh Hub at its heart, I am confident that we are delivering what we have set out to achieve – a vibrant community for people to work, rest, and enjoy.
It has been our pleasure to deliver this project with the support of our construction partner McAleer & Rushe and designers Allan Murray Architects. We are humbled to have played a role in bringing the development to fruition and trust the UK Government will take great pride in calling it their home.
Government employees will benefit from its contemporary design and amenities including a landscaped roof area providing panoramic views across the Waverley Valley.
During design and construction phases of the commercial space, up to 267 people specialising in roles across the entire built environment spectrum worked on the site. This colossal undertaking, which began in February 2017, included the erection of 15,000 cubic metres of concrete, which was non pre-fabricated and poured on site for mix precision. The facades of the completed building are clad in the highest quality Stanton Moor buff sandstone to blend perfectly with the surrounding environment.
Shane McCullagh, Contracts Director at McAleer & Rushe said:
I would like to thank Artisan for providing us with the opportunity to work with them again within their wider New Waverley development. This landmark building is a stand out project for McAleer & Rushe, demonstrating the highest quality and our largest Design & Build office completed to date. We are extremely proud to have played a key role in creating this new UK Government Hub and look forward to continuing our activities in Scotland with a number of exciting projects between Glasgow and Edinburgh.
New Waverley is already a well-established district in Edinburgh following a succession of restaurants, cafes and hotels taking up residence there. The Hub office development was sold in October 2017 by Artisan to Legal & General, who secured the development on behalf of Legal & General Retirement which invests in high-quality long-term UK assets that generate income streams that match its commitments to pensioners.
Derek Gilby, Senior Fund Manager, LGIM Real Assets, said:
When we funded this deal we were confident that it would have a meaningful impact on this area of Edinburgh, creating new jobs and driving economic growth. We are proud to see our vision come to life with this high-quality redevelopment, reinvigorating this part of the city centre, and blending in with the surrounding landscape which has already undergone substantial regeneration with many new building, including a new public square.
New Waverley has won three-place-making awards including best regeneration project for both the Scottish Property Awards and the Royal Institute of Chartered Surveyors (RICS).
For further information about New Waverley visit www.newwaverley.com