New Waverley is a multi-million pound mixed-use scheme, reviving the Caltongate project, and is one of Edinburgh’s most significant city-centre development sites. The project is set to create 2 000 jobs for the city, with a total investment of around £200 million and will create 68,000 sq. m of new space. Artisan acquired the shareholdings of external partners and has since gained planning permission and construction is underway for phase one of the development. An IRR of at least 30% over the life of the project is targeted.