ONE of Scotland's worst eyesores is set to be transformed after the owners of the St James Centre in Edinburgh put the complex up for sale as a "redevelopment opportunity".
The shopping centre, which includes the widely despised 1970s office block formerly known as New St Andrew's House, is on the market for about £160 million.
The sale includes 56 shop units, a food court, the 270,000 square foot John Lewis store t
hat recently underwent a £25 million refurbishment, three car parks and the 147-bed Thistle Hotel.
The disused office block, which was abandoned by the Scottish Office in favour of Victoria Quay in Leith following the discovery of asbestos, is one the most prominent landmarks on the capital's skyline and dominates views of the city centre from the north.
Officially opened in 1975 as New St Andrews House, it is currently leased to the Royal Bank of Scotland, which had originally earmarked the site as its new world headquarters before instead choosing Gogarburn.
New St Andrews House, recently renamed St James House, has been denounced by many, including the former lord provost Jack Kane, who said he hoped "nothing like it will ever happen again in Edinburgh".
Insiders say the most likely outcome of the sale is redevelopment or removal of the office block, which sits on top of the shopping centre. Apartments, new offices, an improved hotel and more shops are among the possible replacements.
The move, which has been welcomed by city leaders and heritage groups, comes days after £200 million plans to revamp Princes Street by pulling down "carbuncles" and replacing them with pedestrian plazas and new links created with surrounding roads. It also marks the conclusion of a massive shift in the focus of shopping from the west end of the city to the east, following the arrival of Harvey Nichols in nearby St Andrew Square in 2002.
Coal Pension Properties, which has owned the St James Centre since it was built in 1973, is selling up as part of UK-wide plans to reduce its property portfolio.
LaSalle Investment Management, acting on behalf of CPPL, believes the sale will "generate considerable interest from major investors and developers".
Andrew Holmes, the director of city development at City of Edinburgh Council, said: "The St James Centre was a major architectural mistake, but a major step forward in providing retail space. We would keenly support an extended development that could give the city more shopping facilities and erase some of the architectural errors."
David McDonald, the chairman of heritage group the Cockburn Association, said: "This is very positive news indeed.
"James Craig's original New Town layout was wrecked in the 1960s, in era of complete disregard for traditional values and heritage."
The full article contains 471 words and appears in The Scotsman newspaper.
