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City developer wins £5m court battle

posted 2 Nov 2010, 08:41 by David Rintoul   [ updated 2 Nov 2010, 08:55 ]

Council‑backed developer EDI is set to be awarded £5 million in a court battle after a judge ruled the firm was not at fault for the failure of a proposed development of Castle Terrace car park.

The developer launched a legal action against National Car Parks (NCP) for the return of the cash after plans to turn one of Edinburgh's biggest central car parks into offices or shops did not materialise.

EDI paid the multi-million-pound sum for the right to redevelop the site, which was leased by NCP from the city council, back in 2005.