The eight-floor building project in the city’s Exchange business district is being developed by BAM Properties in partnership with Hermes Investment Management.

Capital Square is presently Edinburgh’s largest speculative office development and will be located between Morrison Street and Lothian Road, close to Haymarket Station.

Designed by architects Hurd Rolland, the building will feature a glazed curtain-walling facade, double-height reception with a statement atrium, and rooftop terraces.

Dougie Peters, Managing Director, BAM Properties, said: “BAM has a successful track record of identifying when the market is right for investment. We believe now is the time. We are confident in the Edinburgh office market and the Edinburgh economy generally.

“The city continues to suffer from a lack of Grade A supply with strong demand from occupiers for new space. We have a great partner and project team in place providing us with all the right ingredients to undertake a speculative development of this quality.

“This development is special for many reasons, not least its location and staff friendly features. It will provide a competitive edge as Edinburgh lacks high-calibre developments of this scale capable of attracting blue-chip occupiers.’