IHG and Tiger Developments to open Intercontinental Hotel in Edinburgh
Tiger Development’s long running plan to redevelop Edinburgh’s Haymarket area has received a boost with the signing of a deal for IHG (InterContinental Hotels Group) to bring its InterContinental brand to Scotland for the first time.
Tiger’s £250 million vision to transform the Haymarket – one of Edinburgh’s most neglected city centre sites – into a thriving hotel and commercial quarter was called in by Ministers, having been approved by City of Edinburgh planners in June 2008. The proposals for the site are set to be discussed at a Public Inquiry later this year.
John Nesbitt, managing director of Tiger Developments, described the news as “good news for us and good news for Edinburgh” saying it would significantly improve Edinburgh’s top class hotel offering.
“This hotel is fundamental to the commercial viability of the Haymarket scheme. It will be a high profile landmark building for the area which is crying out for new investment and high quality development. Overall, The Haymarket will be of immense benefit to Edinburgh by transforming a strategic site which has remained derelict for 40 years into a vibrant new quarter.”
As well as the hotel, Tiger’s plans for the Haymarket also feature 342,000 square foot of office space providing a natural expansion to the bustling Exchange financial district. A boulevard lined with cafes and shops is planned for the centre of the site, extending from Morrison Street to Dalry Road, forming a major pedestrian thoroughfare linking Haymarket and the Exchange.
Award-winning Edinburgh architects Richard Murphy, CDA and Sutherland Hussey were enlisted by Tiger Developments to draw up designs for The Haymarket. The former Morrison Street Goods yard, is one of the last major gap sites in central Edinburgh and is strategically important, being close to the Exchange and adjacent to Haymarket Station, the second busiest in Scotland.
Tiger Developments was advised by CBRE Hotels on the deal.
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