£1B Edinburgh St. James Centre Project Is Set To Begin
The redevelopment of the Edinburgh St. James centre is set to begin, now that Dutch pension asset manager APG has agreed to a deal with TH Real Estate. APG will take a 75% stake in the 1.7M SF retail and leisure centre.
The project is one of the largest private sector regeneration developments in the UK. Edinburgh St. James is anticipated to create an investment valued in excess of £1B.
The development will include 850k SF of retail anchored by John Lewis, a multi-screen cinema and a W Hotel, which will be the debut of the brand in Scotland. In addition, there will be over 150 private apartments overlooking the city for sale. Edinburgh St. James is slated for completion in 2021.
Savills acted on behalf of APG. Cushman & Wakefield acted on behalf of TH Real Estate.