Steakhouse restaurant Gaucho is opening its first restaurant in Scotland later this year at 3-5 St Andrew Square in Edinburgh.
The £90m development by Standard Life Pooled Property Pension Fund and Peveril Securities is now fully let with five restaurants, offices, and a department store.
The Argentine steakhouse has signed a 20-year lease for a 6,512 sq ft unit next to Wagamama. Gaucho will join other well-known restaurants – The Ivy, Dishoom, The Refinery and Vapiano – in Edinburgh’s new development.
David Stewart, fund manager, Aberdeen Standard Investments, said: “The line-up on the South side of the square is now complete. We have attracted a great mix of restaurants and chefs to Scotland for the first time, and created a new high-quality leisure hub in the heart of the city. St Andrew Square is a fantastic location and we are proud to have played a major part in its renaissance and regeneration.”
Ralph Jones, managing director of Peveril Securities, added: “As work draws to a close on the development, Gaucho joins an impressive collection of restaurants and is the last piece of the jigsaw on the south side of the square. What used to be an unloved, half-empty street is now a flourishing desirable destination.”
The 165,000 sq ft mixed-use development by the Standard Life Pooled Property Pension Fund and joint venture partner, Peveril Securities, comprises 100,000 sq ft of office space, plus 65,000 sq ft of shops, restaurants and apartments.
Culverwell and Bruce Gillingham Pollard acted for Standard Life Pooled Property Pension Fund, while Gaucho was advised by Insight Retail.