Hotel plan to create hundreds more jobs at BHS site
Rooftop restaurant and retail units to top original revenue of key store
A HOTEL and rooftop restaurant promising “tremendous views” of Edinburgh are to replace the capital’s defunct BHS store – and are expected to create hundreds more jobs than originally forecast.
The Princes Street landmark was one of the most high-profile casualties of the controversial collapse of the long-established British Home Stores brand.
But city planning chiefs believe the new restaurant, retail and hotel development could be worth three times as much as BHS in terms of jobs and revenue.
Planners said the incoming developers may have underestimated the number of jobs the complex will require. It could now create more than 450 jobs rather than the 250 for which it originally planned.
A report to go before Edinburgh’s development management sub committee tomorrow states: “The building benefits from tremendous open views to the south of the city.
“This purpose-built store for the retailer BHS was designed as the first flagship store of the chain in Scotland and represented bespoke 1960s modern design for the latest development in retailing.
“The building was meant to be viewed not only as integral component of the existing streetscape but also from many vantage points in the city centre, including Edinburgh Castle. The building is category B listed.”
The building will still be used for shopping in the basement, ground and first floors, with hotel accommodation on the second, third and fourth floors and a separate restaurant on the roof.
Architect CDA said: “The proposal repurposes this building by clearly defining prime retail space at the basement level, lower ground floor and upper ground floor while introducing new uses on Rose Street and the upper floors of the Princes Street building with a new hotel, restaurant uses on to Rose Street and a unique rooftop restaurant to take advantage of the spectacular open views south towards Princes Street Gardens, The Royal Mile and Edinburgh Castle.”
Planners said: “It is estimated that the development could, if fully occupied, be expected to support between 355 and 457 full-time equivalent jobs and between £8.26 million and £10.75m of gross value added per annum.
“The applicant has estimated 250 jobs which appears a conservative estimate given average employment densities.
“It is estimated the building is currently supporting approximately 150 jobs and £3.75m of GVA per annum pro rata.
“The redevelopment is therefore expected to significantly increase the economic activity supported by the building.”
The endorsement follows the go-ahead for a nine-screen cinema, restaurants and retail area in the space occupied by the former BHS store in Glasgow’s St Enoch Centre.
The retailer’s other main Glasgow store in Sauchiehall Street closed in August, along with 160 other shops in the UK.
The firm’s saga was dominated by a dispute between former owner and retail tycoon Sir Philip Green and the Pensions Regulator over a £571m black hole in the company’s pension fund.
The 88-year-old department store’s collapse affected 11,000 jobs and 22,000 pensions. Sir Philip has borne the brunt of the fallout, branded the “unacceptable face of capitalism’’ by furious MPs.