Commercial Finance Specialists

Development of the Edinburgh International Conference Centre has moved a step closer after a contractor was appointed.

The planned commercial development of Edinburgh's main conference centre has moved a step closer after a contractor was appointed for the project.

EICC Ltd has named Sir Robert McAlpine as the principal contractor for the £80 million addition to the Edinburgh International Conference Centre, the Scotsman reports.

The appointment came after the scheme was granted full planning permission from the city council.

EICC's property investment will more than double the capacity of the banqueting facilities from 850 people to 1,800, with the addition of a 1,600-seat auditorium - which is expected to provide Edinburgh's economy with an extra £50 million a year.

Council leader Jenny Dawe told the newspaper: "Additional high-quality conference space at the EICC is essential for Edinburgh to retain and enhance its business tourism reputation and to bring more world-class conferences and events to the city."

Real estate agent CB Richard Ellis recently announced that Scottish commercial property still provides "good security", despite falling growth rates.

Posted by Tess Nelson.