A planning application for the refurbishment of the Calton Square office building, currently home to Baillie Gifford until 31st December 2025, has been granted subject to conditions by City of Edinburgh Council.
Promoted by Ardstone Capital on behalf of Manova Partners, asset manager to the asset owner, the vision for the repositioned Calton Square is to create a best-in-class office building comparable to the best in Europe, with the highest possible Environmental and Social Governance (ESG) standards and lowest carbon footprint.
Located at the top of Leith Walk, the scheme provides almost 200,000 sq. ft. of office accommodation, with a number of roof terraces, co-working area and a striking internal atrium that has the potential to act as an auditorium suitable for a number of event types.
Fronting onto Leith Street the building will retain the existing structure and will re-use existing materials on site where possible.
Sustainability and net zero objectives have been established as a key consideration, delivering first class energy and environmental performance standards, with best-in-class ESG ratings targeted including Nabers 5*, WELL Platinum and BREEAM outstanding.
Commenting on the granting of consent, Craig McDonald, Principal and Managing Director of Ardstone Capital UK, acting as development manager on behalf of the owner and its advisory team, said:
“The granting of consent, subject to conditions, has been a successful collaboration between the client, design team, City of Edinburgh Council and other stakeholder groups that have been very gracious with their time and support.
“With the lack of supply of high-quality office in Edinburgh looking set to continue there is much confidence around the project. Aiming to deliver the highest environmental performance standards and the lowest possible carbon footprint, we expect to deliver an exemplar office building, which will serve the occupiers, investors and the Edinburgh community well into the future.
“Calton Square will address demand for top quality office space in the capital, while making an important contribution to the city, and we look to continue engaging with the Council and local community as we turn our vision for the site into a reality.”