The proposed redevelopment of vacant buildings on King’s Stables Road will be taken forward by a joint venture between Peveril Securities – part of the Bowmer & Kirkland Group – and Campus Development Management, which has agreed to buy the site from the city council. The sale is subject to ratification by the council’s finance and resources committee on 19th March.
The buildings were previously council offices, storage premises and workshops and have been vacant since 2009. They were put on the market by the council last year.
The proposed mixed-use development includes a hotel, one and two bedroom flats and student accommodation. There will also be an arts café complex and artisans’ workshops, to fit in with the council’s wider aspirations for a new cultural quarter on the site of Argyle House and the linking of Castle Terrace with the Grassmarket and West Port.
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