Plans have been submitted for the New Town Quarter development in Edinburgh town cente.

The scheme by Ediston and Orion Capital Managers will include new homes, offices and a hotel on the 5.9-acre former Royal Bank of Scotland site in the heart of Edinburgh’s New Town.

Ross McNulty, Development Director at Ediston said: “We firmly believe that now is the right time to move forward with our proposals and deliver further significant investment in the heart of the nation’s capital.

“Our proposals for New Town Quarter will help speed economic recovery in Edinburgh. Research highlights the significant investment benefits that this high-quality development would bring to the Edinburgh economy, as well as helping to meet the pressing need for high quality new homes and office space. I would like to thank all of the organisations and residents who gave their time and feedback to the consultation process. It has made a huge contribution to refining and improving the proposals. This is a large and complex site, and we wanted to take the time to get it right”. 

A study by UK planning and engineering consultancy The Waterman Group, reveals that the operational phase of the development would create more than 700 full-time jobs whilst generating an annual GVA economic uplift of £34.4m to the local and regional economy. The construction phase on its own would create a further £27.7m GVA at a regional level and create a further 60 full time jobs.