March 2 2015

King’s Stables Road, one of 12 areas prioritised for development across Edinburgh, has been earmarked for a new arts complex, as well as a hotel, student housing and flats funded by Peveril Securities and Campus Development Management.

Situated within the Old Town World Heritage beneath Edinburgh Castle the former depot stands in close proximity to the Edinburgh College of Art but has lain unused since 2009.

Ralph Jones, head of development at Peveril, said: "These exciting proposals will breathe life into a corner of the Grassmarket that has lain neglected for a number of years, providing a hotel, student accommodation, flats and facilities to accommodate and promote the arts.

"It will also provide a great link between the Grassmarket and Exchange business districts, bringing a vibrant mix of uses to the area and form part of the Council’s aspirations for a new cultural quarter.”

Public consultations will now take place subject subject to ratification of the necessary land disposal by Edinburgh City Council on 19 March.

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