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RBS puts key Edinburgh development site up for sale

Words: Roger Milne
Dundas House / Shutterstock_76728547

The former New Town Royal Bank of Scotland’s site on Dundas Street, Edinburgh, is now for sale after the bank’s controversial plans to demolish and redevelop the land were withdrawn in August.

Branded as ‘New Town North’, the 2.3 hectare area is the largest site to be sold in the city centre for more than a decade and is expected to attract interest from both UK and international developers, according to marketing agent Cushman & Wakefield.

The site offers a rare opportunity to create a new ‘quarter’ for the city, extending the New Town and taking advantage of Edinburgh’s unprecedented economic growth over recent years. The full spectrum of city centre uses – residential, build to rent housing, hotels, offices and leisure facilities – are anticipated.

A concept masterplan has been developed for around 38,000 square metres of development, with attractive landscaping and pedestrian-friendly public spaces. There are also nearly 212,00 square metres of existing high-quality office and data centre buildings already on site that could be refurbished or reused.

An RBS spokesperson said: “We are excited by the marketing launch of New Town North, which is an exceptional opportunity to redefine this site as a striking new neighbourhood in Edinburgh.”

RBS relocated staff from the site last year to its purpose-built headquarters in Gogarburn.

Image credit | Shutterstock