Edinburgh City Centre Management (ECCM) has selected AM Development UK Ltd as preferred strategic development partner to assist in reviewing current potential for retail led regeneration opportunities within Edinburgh's city center.
AM was selected from 7 contenders to represent the commercial property development sector. The proposals for the redevelopment form part of the updated Edinburgh City Centre Action Plan, which was released today by Edinburgh City Centre Management, City of Edinburgh Council, Scottish Enterprise Edinburgh and Lothian and Edinburgh World Heritage Trust. The plan, which prioritizes the needs of the retail sector, aims to create a healthy economy and world-class city centre experience for residents, workers, shoppers and visitors. This will further enhance Edinburgh's reputation as a contemporary, dynamic successful and innovative capital city.
In joining ECCM's team, AM will be tasked with testing the commercial viability of redevelopment options. An early priority for AM is to speak to all relevant property owners and tenants as well as new retailers about their aspirations and needs. It is anticipated that this will lead to the selective redevelopment of Princes Street coupled with the retention of buildings important to Edinburgh's heritage.
ECCM was particularly impressed by AM's proven track record of successfully redeveloping and regenerating city centres across Europe. Part of the selection criteria was to showcase the development team's experience in developing inner city centers throughout Europe. With over 100 retail-led mixed-use developments completed in the last 25 years across Europe, AM is well placed to deploy their experience and knowledge of city center redevelopment projects to ensure that Edinburgh's retail offering and city center is on a par with other major cities in the UK and mainland Europe.
AM displays great sensitivity to the scale and complexity of such projects having worked in Maastricht, Amsterdam, Rotterdam, Antwerp, Solingen, Hagen, Vichy, Lisbon, Aveiro, Girona and many other historic cities AM's environmental and public realm considerations also scored high on the selection criteria.
Paul Sargent, Managing Direction AM UK, commented: "We are delighted to have been selected as strategic development partner to assist in helping Edinburgh's beautiful city center become even more attractive to residents, shoppers and investors. This is a wide role, which represents the level of commitment shown by all the key partners to making the city centre an even more stunning world-class arena. AM are thrilled to be given the opportunity to help in assisting to sensitively redevelop a key part of Edinburgh, one Europe's most historic and cultural cities. We are realistic about the scale of the task and are very exited to work in such a market place that has worldwide recognition. Our aim is to be pragmatic and help ECCM and its partners deliver workable solutions."