One of Edinburgh’s best-known entertainment
venues is to be redeveloped. The ABC Cinema complex in Lothian
Road, now part of Odeon Limited following the recent merger
of Odeon Cinemas and ABC, is due to re-emerge as a high quality
mixed use scheme, anchoring the south east end of the City’s
Exchange business district.
An application for detailed planning consent has been lodged
by Take Two Developments, a joint venture between Edinburgh
based Premier Property Group (PPG) and J Sainsbury Developments
(JSD).
The development will comprise 5,300 sqm (57,000 sq ft) of grade
– A office accommodation, a 4-screen miniplex cinema pre-let
to Odeon and a 370 sqm (4,000 sq ft) restaurant/retail unit.
The existing cinema entrance will be retained with the principal
office entrance located at the corner of Morrison/Semple Street
directly opposite Scottish Widows headquarters. The five-storey
office building will provide large open plan floorplates in
excess of 3,560 sqm (11,700 sq ft) currently much in demand,
but in short supply in the city centre. The spacious restaurant
will by day draw from the expanding customer base now operating
in the Exchange district and in the evenings offer a quality
alternative within the heart of the city centre.
Ian Tudhope, Managing Director of PPG, said:
“This prominent site will benefit enormously from the
visual improvements proposed and also from its integration into
the Exchange. We are delighted to have been able to offer Odeon
a workable solution to their occupational needs, while at the
same time adding a significant chunk of high quality office
stock to the Edinburgh market.
Participation in this new scheme will also extend our involvement
in the growth of the Exchange district, allowing us to maintain
the presence initiated by our development of Excel House in
Semple Street.
Our partnership with JSD is an exciting step for us and will,
we hope, be the first of many with them.”
Catherine Bulcock, Development Executive of JSD said:
“Following the success of our mixed office/retail scheme
at St Andrew Square, we were very keen to maintain an active
development presence in Edinburgh. The ABC site project offers
a superb opportunity to participate further in a strong office
market, while also taking on a real challenge in recreating
such a prominent location for the demands of modern day business
and leisure.
By partnering a strong Scottish developer, we believe we have
a good mix for a successful scheme. We are also very hopeful
that our plans will meet the City’s planning criteria
for this location.”
Ms Bulcock also confirmed that consideration had been given
to incorporating a food retail element within the scheme. The
view ultimately taken however had been to proceed with the office/cinema/restaurant
mix.
Andrew Glasgow, Director of PPG, said:
“The ABC cinema site is one of the last remaining development
opportunities within the Exchange. This high quality scheme
will complete the triangle formed by Scottish Widows HQ, the
recently pre-let Edinburgh One and PPG’s Excel House development.
There is a real shortage of Grade A accommodation within the
core location which offer large floorplates in excess of 930
sqm (10,000 sq ft) and with the predicted pressure on new stock,
I am confident that this scheme, due for completion in early
2002, will generate significant pre-letting interest.”
Ron Hanlon, Marketing Director, Odeon Limited, said:
“Odeon is really excited about this development. The ABC
site has been a landmark in Edinburgh for cinema goers and we
intend that when finished, the four screen Odeon cinema will
continue this tradition by offering customers a state of the
art cinema going experience.”
