TIAA Henderson Real Estate’s (TH Real Estate) £850m transformation of the St James Centre in Edinburgh, one of the largest regeneration projects of its kind in the UK, is moving apace with construction set to begin in 2015. As part of Redwood’s role managing the full marketing and communications remit for the project, the team has been focused on aligning messages and building the foundations for a strong marketing programme.

Key recent updates from the regeneration project include:

-Earlier this year, an innovative funding agreement was announced between the City of Edinburgh Council, the Scottish Government and TH Real Estate. The £61m required to improve local infrastructure and public space in the area for the scheme will be facilitated by the City of Edinburgh Council through a new funding model, referred to as the ‘Growth Accelerator Model’ (GAM). The mechanism will enable a combination of public and private sector investment in local infrastructure and public space that can then be offset by business rates and overall gains to the economy.

-In addition, it was recently announced that architectural firm Purcell has been appointed to join the project team. The company has been instructed to carry out design work on both the Mansion Capital and St Andrews Hall buildings on the site, both of which are listed.

-The Edinburgh St James development will deliver 750,000 sq ft of prime retail space, one high-end and potentially one mid-market hotel as well as up to 250 new homes and one boutique cinema. It will elevate Edinburgh’s position on the international ‘map’ of major shopping destinations and move Edinburgh further up the UK retail rankings, from 13th to seventh. It will also support the city’s tourist industry which brings an estimated £260m into Edinburgh each year.