Edinburgh St James
APG Strategic Real Estate & Nuveen Real Estate
Edinburgh St James is Scotland’s largest and most significant mixed-use development in a generation. Acting for the Joint Venture investors and Nuveen Real Estate, TFT have been appointed as Monitoring Surveyor for the entire c £800m development.
The 1970s shopping centre, car park and former Scottish Government offices are in the process of being demolished to make way for the 1.7m sq ft development. Edinburgh St James is scheduled to open to the public in 2020 and will consist of 850,000 sq ft of prime retail space with over 85 shops and over 30 restaurants spread across four levels. These will sit alongside the existing John Lewis department store, which remains open throughout the development. The centrepiece of the development will be the iconic W Hotel, with up to 214 guest rooms and 20 suites. There will also be a Roomzzz Aparthotel comprising 73 rooms, 150 apartments as well as Scotland’s first Everyman cinema. Car parking will comprise 1,600 parking bays.
TFT attend the key meetings, undertake site inspections and report to the JV on a monthly basis. In addition, TFT ratify all changes under the Development Management Agreement and certify the monthly drawdowns.