Parabola receives Edinburgh Park planning permission
Parabola, the award winning developer and investor, who own the 43 acres of undeveloped land to south of the existing Edinburgh Park has confirmed that it has now formally received its planning permissions for the first phase of the creation of a new quarter of the city. Work on site is anticipated to begin in the next few months.
The mixed-use planning permission includes one million square feet of high quality offices, a new public square, sports and leisure facilities including football pitches and tennis courts, shops, bars, restaurants, a health centre, and extensive landscaping. There is also to be a performance arts space in the very first phase building constructed as part of the masterplan. This building will be designed to meet future workspace needs with flexible space for individual business users and businesses which will adapt to their needs.
Parabola’s plans are the largest single site planning proposals to be advanced in Edinburgh in the past decade.
The Economic Development potential for the first phase of Parabola’s plans is estimated at creating nearly 5,500 job opportunities. Studies into the overall potential of the site when fully developed estimate that up to 7,000 job opportunities will be realized when the new quarter is complete.
Parabola recently confirmed that to complement the parkland landscape its extensive collection of sculptures will be displayed at Edinburgh Park including returning Sir Eduardo Paolozzi’s Vulcan to Edinburgh. This iconic sculpture is considered “a monument to the modern industrial age”.
The planning permission comes 20 years after the original masterplan was submitted for the project. The proposal will include two multi-storey car parks on the perimeter of the site, including vehicular electric charging. The site has exceptional public transport links, including two train stations, two tram stations and good bus links. The site will link to dedicated cycle and pedestrian routes as well as provide over 900 cycle spaces.
Peter Millican OBE, owner and founder of Parabola, said: “Parabola is working with a world-class team and expect to deliver a world class place at Edinburgh Park, which will set a new benchmark in design, place making and well-being for the new community of this new quarter of the city.”
Parabola’s managing director Tony Hordon said: “This is a wonderful result, marking not only a huge team effort since the submission of the planning application, but also the many years before the submission. We have a wonderful opportunity now to deliver an exemplar in commercial space and public realm so desperately needed by the city. I am hugely grateful to the whole design team for their tireless efforts. Parabola is keen to realise its ambitious vision for Edinburgh Park and finally start work on site.”
Commercial agents JLL and C&W will be advising on the marketing and availability of the accommodation.
For further information, please contact:
Craig Harrow, 07876 503712