PLANS have been unveiled to transform a department store on Edinburgh’s Princes Street into a £50 million four-star hotel that would include a rooftop bar with 360-degree views of the city.
The proposals for the Debenhams store building also include a city centre “hub” with shopping, dining, hospitality, leisure and event space.
The building’s owner Legal & General announced the scheme, due to be submitted to Edinburgh City Council this week, on behalf of the L&G UK Property Fund.
It says the scheme would turn an “under-utilised” retail premises in a building of significant architectural heritage and history in Edinburgh, into a vibrant destination for residents and tourists.
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Legal & General said the hotel is likely to open in the latter half of 2024, with Debenhams set to leave the property within the next couple
of years. The proposals include a spa, “fine casual’ dining and a new shopping close, linking through to Rose Street, which, along with the rooftop bar, will open to the public.
A spokesman said: “The Upper Upscale Hotel will have its own indep-endent identity, reflecting the energy, culture and history of Edinburgh.”
Matt Jarvis, senior fund manager at Legal & General, said: “As normality begins to return around the world, it has never been more important that we support the UK’s cities in continuing to adapt, change and innovate.”
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