| scotland
ARTISAN REAL ESTATE INVESTORS FOCUS ON SCOTLAND A
rtisan Real Estate Investors nomination for two of the Scottish property
industry’s most high profile awards in February marks a coming of age in Scotland for one of the Europe’s most ambitious investment partnerships. Artisan’s shortlisting in this year’s Scottish Property Awards for both the Property Company of the Year and the Deal of the Year categories reflects the company’s stellar investment-based success across Scotland over the last 12 months. The international investment
partnership brings together more than 30 years of experience in some of the UK’s most innovative and exciting Grade A office, retail, industrial, leisure and residential developments. In that time, has established an impressive development track record in sensitive city centre development, especially in complex mixed use sites. Artisan’s pipeline of current
development projects comprises 1.5 million square feet with a gross development value of almost £400 million. During the last three years in particular, a significant chunk of that business has been activated in Scotland.
New Waverley, Edinburgh Artisan’s flagship Scottish development is New Waverley, a £200 million, 7.5 acre award-winning mixed-use scheme seamlessly linking Edinburgh’s Waverley Station with the city’s iconic Royal Mile, forming part of the Old Town’s UNESCO World Heritage site. During the last two years, New Waverley has delivered 400 hotel rooms, including two Whitbread hotels – a Premier Inn and a Hub by Premier Inn - and an Adagio Aparthotel overlooking the Royal Mile. As well as completing 45 affordable homes, New Waverley has also delivered a row of 19 Victorian arches which has been transformed into a new artisan-based leisure café and specialised retail district for the city. Currently under development is a boutique hotel by Apple Apartments, and a
Aerial View of Custom House, Glasgow
further 148 new homes are also planned. In July 2017, the UK Government announced that it will take approximately 190,000 sq.ft of Grade A office space at New Waverley, moving some 2,900 civil service jobs into the heart of Edinburgh’s Old Town. Described at the time as the city’s largest office leasing deal for more than 20 years, the deal made to shortlist for the Scottish Property Awards Deal of the Year Category, sending out an important message that our city centres have the interest, value and capacity to attract investment from the very best employers,
Custom House, Glasgow The success of New Waverley has encouraged Artisan to take its model of sensitive city centre regeneration to other parts of Scotland, most notably with the transformation of the Custom House, one of Glasgow’s most prominent waterfront development sites.
A CGI of the new office development at New Waverley
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Artisan has submitted a pre-application notice to Glasgow City Council to develop the site, which links the city’s famed Buchanan Street with the River Clyde waterfront, to create a thriving hotel and leisure quarter. The £90 million plan spans a development area of 2,700 sq.m and includes the historic sandstone Grade A-Listed Custom House and its former stable block, together with two adjacent tenement buildings straddling the corner of Clyde Street and Dixon Street. Artisan purchased the site in August 2017 and agreed a leasing deal with the Dalata Hotel Group in November to bring Scotland’s first Clayton Hotel to the Custom House – a four-star development including 300 bedrooms, a bar, restaurant and conference facilities. A 150-room aparthotel is also planned for the adjacent tenement buildings, together with street
level bars and restaurants.
Other Scottish Developments As well as the flagship city-centre regeneration projects, Artisan is also developing 180 high quality apartments for its Canonmills Garden scheme overlooking the Water of Leith, in Edinburgh as part of a major regeneration of a former brownfield site in one of the city’s most attractive residential areas. Canonmills Garden is located on a 1.75 acre plot currently accommodating a large DIY Store. Planning permission has been granted to create 183 high quality residential units over four blocks. Building is starting soon in 2018.
Artisan is also currently developing the 22,000 sq.ft Abbeyhill Industrial Estate, located just off London Road, which is currently home to companies including HSL, EKCO, The Electric Centre and the Edinburgh Festival Centre. And in Glasgow, Artisan recently purchased The Cotton House, a striking 52,000 sq.ft office development in the heart of the fashionable Merchant City area of Glasgow. Artisan’s Chief Executive Jaco Jansen
said: “Artisan is enjoying a growing presence and influence across the Scottish property scene. We have forged a strong reputation with New Waverley over the last few years and I am especially pleased that Artisan is now being recognised for its wider investment across Scotland, including other developments in Edinburgh and two significant regeneration projects in Glasgow which will come of age in 2018.” For more information visit
www.artisanrei.com
COMMERCIAL PROPERTY MONTHLY 2018
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