Construction of the extensive, mixed-use development on the site of the former Fountain Brewery in Fountainbridge, starts today [02 May 2019]. Named “New Fountainbridge” by its developer Vastint Hospitality, the first phase will comprise a 59,554 sq ft Grade A office, a 262-room Moxy hotel, café, ground floor work spaces and a restaurant fronting a new civic space.
The new spaces will create a lively, new urban neighbourhood close to the city centre, that balances work, living and leisure activities.
The Moxy hotel will be an anchor to the development. It features a vibrant lobby that is open to guests and the public, 24 hours a day.
The office space is expected to attract a mix of corporates and businesses involved in Edinburgh’s thriving creative and tech sectors.
This first phase of the development is expected to be complete in the second half of 2020; construction of the second phase will start towards the end of this year, subject to planning permission being granted by The City of Edinburgh Council.
Phase 2 will consist of 234 residential apartment units and canal-side townhouses, as well as commercial and social enterprise spaces. Of the total 234 apartments, 25% will be affordable housing.
After acquiring the land for development in 2016, Vastint worked closely with the City of Edinburgh Council on the proposals for the site.
Gijs Vermeulen, Project Manager for Vastint comments: “This site has remained derelict for nearly 15 years since the brewery closed. Our New Fountainbridge development signals a fresh start for the area and we look forward to delivering a distinctive, urban quarter in Edinburgh where local people and visitors will be able to enjoy living, working and socialising.”
The canal area is already transforming rapidly and this development will be a major step towards its completion as a new quarter.
In the same week that construction of New Fountainbridge starts, Edinburgh Printmakers are opening Castle Mills, their new world class home.
The contractor McLaughlin & Harvey has been appointed to deliver Phase 1.
Agents appointed to work on leasing the commercial space are CuthbertWhite (offices) and Savills (retail/leisure).
Chris Cuthbert from CuthbertWhite commented that there is significant, unmet need for new Grade A office space in the city centre, with vacancy rates at an all-time low. “The office development within New Fountainbridge, alongside The Exchange, has been designed with the occupiers in mind, offering multi-divisible 10,000 sq ft floor plates and superb staff amenities. We are very excited about the long awaited transformation of this area and anticipate strong demand for the product”.