Page last updated at 23:52 GMT, Friday, 19 September 2008 00:52 UK

'Business as usual' for HBOS hub

HBOS
A LLoyds TSB takeover of HBOS is in the pipeline

Plans for a huge HBOS hub in the heart of Edinburgh have not been affected by the takeover by Lloyds TSB.

HBOS said it was "business as usual" and nothing had changed with proposals for the former Scottish and Newcastle site in the capital's Fountainbridge.

The bank bought the site a few months ago for an undisclosed sum.

It hopes to merge its 16 Edinburgh buildings and 6,000 staff into the new campus, but will keep its international headquarters on The Mound.

'Nothing changed'

It will be seven or eight years before the project is complete and a couple of years before building work starts.

Part of the site may also be developed commercially or residentially.

An HBOS spokesman said: "Nothing has changed. It's business as usual."

Back in March HBOS announced it had entered into "exclusive" discussions with Scottish & Newcastle to buy part of the Fountainbridge site despite a rival consortium of three firms, including Royal Bank of Scotland, believing it had secured the site.

The consortium, known as Springside, had already bought up the former S&N bottling and distribution plant across the road, and is currently building the first phase of new flats in a new "urban village".

The next stage involved purchasing the main brewery site, for which it was the preferred bidder before HBOS made its interest public.




RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC iD

Sign in

BBC navigation

Copyright © 2020 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific