Well known top soccer executive, Vladimir Romanov, is to rent out two prime Edinburgh buildings as offices while he waits for planning permission to transform them.

The former RBS headquarters at 42 St Andrew Square and its old offices at 38-52 West Register Street were bought by the Hearts owner last year in a £20m deal.

Romanov's Ukio Bankas Investment Group want to turn the sites into an upmarket hotel and retail development and are currently assessing options.

They say the project remains on track but may take up to three years to get the relevant permission.

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So Romanov has decided to offer short-term leases, ranging from three months to two years, on the city centre sites.

Sergejus Fedotovas, Deputy Director of the Group, confirmed it was reviewing three different levels of investment.

He said: "We are keen to work with Edinburgh City Council to produce an outstanding development which will be a credit to the city and an enhancement to St Andrew Square following the recent improvements to its environment.

"We have planned for the permissions and development process taking up to 36 months and given the shortage of office space in the city centre, it makes sense to look at leasing."

"We are working with top hotel brands, architects and consultants and all involved are determined to deliver a project which will maintain the strategic importance of 42 St Andrew Square. This is a massive project for us and we want to ensure we get it right."

(GK)