Henderson gives public first say on £850m flagship scheme for Edinburgh

Henderson Global Investors has launched a major consultation programme into its proposals for St James Quarter, the EUR 1.1 mln (£850 mln) vision for Edinburgh city centre. The eight-week consultation programme will give members of the public a chance to comment on plans for the new shopping centre before an outline planning application and master plan is submitted to the council.

The proposal is the largest redevelopment project in Edinburgh's city centre for half a century. Subject to planning, work could start on the new St James Quarter in 2010 with completion anticipated in 2015.

Plans for the new retail and leisure quarter include a shopping centre with a crescent-shaped multi-level galleria, two hotels, cafes and restaurants, new homes and a series of continental-style public spaces. The aim is to restore Edinburgh’s reputation as one of Europe's leading shopping cities.

The Henderson UK Shopping Centre Fund bought the centre from Irish investor Donegal Place Investments in July 2006 for £184 mln.

Chris Pyne, senior portfolio manager at Henderson Global Investors, said the proposals marked a major step forward in the vision to transform the existing centre and adjoining buildings into a world-class destination.

'This redevelopment will provide a major boost to the retail offer in the heart of the Scottish Capital. We plan a contemporary and commercially vibrant development that will sensitively integrate into the urban fabric of Edinburgh.'

'We recognise the significant public interest in the St James area, and the importance it holds for the future of the city. This is a once in a lifetime opportunity to make a positive difference to a city of global stature - and we want to move forward by working hand-in-hand with the local community that it serves.'