Support services and construction company Interserve plc (IRV.L) Wednesday said it has formed a joint venture company with landowner Tiger Developments to progress the 200 million pounds development of a site next to Haymarket station in Edinburgh. Interserve is expected to initially invest 10.5 million pounds in the project with the follow on construction works to a value of 150 million pounds being undertaken by Interserve Construction.
Interserve said the project will bring together a mix of high quality office, hotel and retail space with the potential to create 3,500 jobs and added that the site already has full planning, with tenants already signed up for the initial development phase including Tesco and serviced apartments provider Staycity.
Tiger is expected to partner with Interserve in managing the marketing and development of the Haymarket site.
Commenting on the development, Adrian Ringrose, CEO of Interserve, said,"Edinburgh's Haymarket site remains one of the best city centre developments schemes to be found anywhere in the UK. It will provide a strategic gateway for the city centre, linking seamlessly with one of Scotland's busiest railway stations, as well as being adjacent to the city's new tram network."
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