As expected in documents released for the council’s finance and resources committee last week, the council agreed on Thursday to lease the old Royal High building to the Royal High School Preservation Trust.
The building has been empty for over half a century and was recently the subject of an urban planning appeal. A previous developer wanted to turn the building into a luxury hotel, but didn’t get the required building permit to allow that to happen.
RHSPT already held a building permit for the building, but until now had no legal right to occupy it. The property was put on the open market over the summer and will now be offered to RHSPT for a long term lease in return for an initial premium of £ 1.5million.
The music school’s bid is funded by £ 45million from the Dunard Fund and an additional £ 10million endowment.
Councilor Rob Munn, Head of Finance and Resources, said: “It is great news that this iconic building, located at the heart of our World Heritage site, is now being restored and reused, making it accessible for many generations. future.
“I am delighted that the committee has approved this proposal today as I am confident that it meets our criteria, as HRSPT will ensure a long-term sustainable future for the old school while also committing to meet the standards. High architectural standards required for the future restoration of the building to ensure that it conforms to our World Heritage Site.
Councilor Joan Griffiths, Vice President of Finance and Resources, said: “This is great news for the people of Edinburgh as when we finalize the lease we will explore opportunities to partner with RHSPT to share our knowledge and open up opportunities for our students. as well as other musicians, choirs and orchestras from across town to make good use of this highly regarded building and the world-class facilities that the trust plans to provide.