New Waverley, Edinburgh
Legal & General
Since 2017, ten significant developments across the UK have been pre-let to the Secretary of State For Communities and Local Government as part of a wider rationalising of their portfolio. TFT was quickly appointed by the buildings’ investors Legal & General Pension Fund to carry out the Technical Due Diligence (TDD) and subsequent Project Monitoring of all ten schemes.
One of the developments is New Waverley, a mixed-use regeneration project in the heart of Edinburgh city centre, nestled between Waverley Station, Waterloo Place and The Royal Mile. The development includes retail units, hotels, apartment hotels, offices, Build-to-Rent and residential.
TFT monitored the development of the offices at New Waverley North and South, officially designated as Queen Elizabeth House. The building comprises 189,500sq ft of Grade A office space and cleverly accommodates a steeply sloping site across four of the storeys between the north and south elevations. It also boasts roof terraces that provide enviable views of the Waverley valley, East Lothian, the Forth estuary and Arthur’s Seat at Holyrood Park.
The building is occupied by ten Government departments, including HMRC, Office of the Advocate General, the Office of the Secretary of State for Scotland and the UK Government Cabinet Office.
“The TFT team is proactive and diligent providing a cooperative approach with Developers to help them achieve their targets whilst sticking to the rigour of the Funding rules. Drawdowns are completed in restricted timescales and the design and construction elements are being closely assessed and monitored against programme and quality standards.”
Head of Technical Services
Legal and General Property