Construction has begun on a hotel complex in Ednburgh’s Cowgate following the purchase of the development by LaSalle Investment.

Designed by ICA Architects, the £30m scheme was bought from Jansons Property and is expected to be open by December 2013.

The 259 bed Ibis hotel will contain a new shop fronting the South Bridge and a restaurant and nightclub.

Cyril Sweett are serving as project managers on the scheme with Wakemans acting as quantity surveyor and Turleys as planning consultant.

The site at Cowgate attracted nationwide attention in 2002 after a fire completely destroyed the inside of the property.

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Since that time, various negotiations between nine different owners and the recession have delayed progress on the site.

John Yeend, director of LaSalle added: "We have followed the development of the SoCo site for some time and I would commend Jansons for gaining widespread support for a high quality addition to Edinburgh’s World Heritage site. We believe that the development will quickly become a positive and valued addition to Edinburgh’s city centre and we look forward to making further investments, where the schemes can meet our standards and expectations."

Andy Jansons, CEO of Jansons commented: "This represents the culmination of a great deal of hard work but I am proud that we are able to announce the formal launch of construction today and the purchase of the scheme by LaSalle. Edinburgh has been very helpful in helping to make this happen and I would like to place on record my appreciation to the council for its support."

(IT)