Capital Square will be an eight-floor purpose-built development with 122,000 sq ft of office space and an underground car park.
BAM Construction has been appointed main contractor for the scheme, which will be in the city’s Exchange business district, between Morrison Street and Lothian Road. Completion is expected for occupancy in early 2020.
Hermes Investment Management, in association with Parlison Properties, secured planning approval for the development in 2015 and Parlison Properties will continue as development consultant to the project.
Designed by architect Hurd Rolland, the building will have a glazed curtain-walling facade, double-height reception with a statement atrium, and a courtyard entrance, set within a private south-facing landscaped garden. The property will also have rooftop terraces.
A BREEAM (Building Research Establishment Environmental Assessment Method) ‘excellent’ rating is anticipated.
BAM Properties managing director Dougie Peters said: “BAM has a successful track record of identifying when the market is right for investment. We believe now is the time. We are confident in the Edinburgh office market and the Edinburgh economy generally. The city continues to suffer from a lack of Grade A supply with strong demand from occupiers for new space. We have a great partner and project team in place providing us with all the right ingredients to undertake a speculative development of this quality.”