Odysseus Capital Management has been awarded planning permission for Edinburgh One redevelopment at 60 Morrison Street. The developers and asset managers based in Edinburgh bought the former headquarters of the Scottish Widows Investment Partnership in a £22 million deal earlier in 2021.
The project will create seven floors of 88,000 sq ft Grade A offices. The development, which is set to complete by the third quarter of 2023, is expected to become the first net zero carbon office project in the city centre of Edinburgh. The managing director at Odysseus Capital Management, Richard Edlmann stated: “We are delighted to be creating this exemplar project, set to be one of the first post-COP 26 designed office scheme in the city center.”
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The net zero carbon ambitions by 2030.
The design by CDA Architects offers a double height reception, while adding a roof terrace and two further floors. JLL and Dobson Scotland are the Edinburgh One joint letting agents, while Montagu Evans where the planning advisors to Odysseus. The lead director for JLL in Edinburgh, Cameron Stott, stated: “Edinburgh One will be developed at a period when there’s a predicted serious shortage of grade A offices in Edinburgh. Some commercial property figures back in 2018 revealed that around 460,000 sq ft of new occupier specifications arrived into the market in the be first three months from organizations looking to lease office around Edinburgh.
“The specification and design of the project has been future proofed to attract public and corporate sector organisations with ambitious goals to having net zero by 2030. “We hope Edinburgh One is going to attract financial, technology and corporate companies that will value sustainability being part of their agenda.” The managing director at Dobson Scotland, Keith Dobson, added that Odysseus was aiming the highest ESG credentials with BREEAM Excellent and EPC A while achieving a net zero carbon building in operation by fully electric power utilisation.”
