LEITH STREET – FIRST CHANGE OF MANY?
Planning permission has been granted to change the use of empty premises at 45–7 Leith Street from Class 4 (office) to Classes 1 (Retail), 2 (Financial, Professional and other services), and/or 3 (Food and Drink). It forms part of the building marketed as the Cube.
The property sits next to Starbucks on the corner with Calton Hill, and one element of the approved scheme involves insertion of a new (matching) door on the main Leith Street elevation (Ref. 15/05363/FUL).
The change of use appears to reflect difficulty filling the space as currently configured, and the changing potential of Leith Street in relation to the soon-to-emerge St James Quarter over the road.
Below is, first, the empty property as envisaged in the twinkle of a designer's eye ...
and, second, the empty property as currently occupied by one man and his laptop.
Mixed feelings
In principle, we welcome occupation of the property, and a more active and engaging use for this ground-floor site.
Having said that, we also have misgivings about the potential for Leith Street’s south-east side to be rapidly gentrified in years to come. Whilst no fans of the deafening traffic, fag butts and windblown litter here, we would regret small businesses and useful services – two bars, two cafés, advisory/help centre, bridal shop, newsagent, and kilt-hire shop – being squeezed out or rendered unaffordable to locals in whatever new ecology emerges.
Empty space and bit of a mouthful
The organisation behind this latest proposal has a name which may be unfamiliar to some, but will doubtless trip off the tongue with practice: TRIUVA Kapitalverwaltungsgesellschaft mbH SVI Fonds.
They’re German, provide and manage real estate for institutional investors, and have assets valued at around EUR 9.9 billion. They recently bought the 63–5 George Street home of Jack Wills (plus offices above) for £12 million.
So, possibly worth tapping for raffle prizes come this summer’s school fete.
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Paul Burgess A site for a Costa Coffee?