£100million investment in Princes Street
Client
Hunter REIM
Sector
Hospitality & Leisure
Services provided
Cost Management,
Sustainability,
Building Surveying,
£100million investment in Princes Street
Edinburgh’s Princes Street is set to undergo a major transformation with a £100 million investment as Ruby Hotels and property management company Hunter REIM seek planning permission from Edinburgh City Council.
The luxury hotel will span seven floors and boast views of Princes Street Gardens, the Ross Theatre, and Edinburgh Castle. It is expected to open in 2026, following the public engagement and consultation process in 2021 and subject to planning approval.
We are providing cost management services on this live project, from initial design stage 1 through to completion (planned for 2025).
The works include demolition, façade retention and extension of 3nr existing buildings on Princes Street to provide a 300+ bed hotel over 7 floors with retail space at ground level and a rooftop bar on the 7th Floor.
The Cost Management team is working closely with the client and the design team to manage and monitor the project budget as well as providing guidance and support on the procurement options.
Risk is a key element of the costing process, given that some of the buildings date back to early 1900s and will require an understanding of the required repair and refurbishment works.
We will keep you posted on this as the project moves through the various stages, challenges and outcomes as we work together with the teams to bring this ambitious project to fruition.
