What is happening? Caledonian Heritable, which has a series of venues in Edinburgh including The Dome, has bought the former Savings Bank at 177 Ingram Street.
The property was most recently the site of clothing brand Jigsaw but it has closed and has been put up for sale. It has since been bought by Caledonian Heritable who paid over £1.5million.
The former Savings Bank headquarters as we know it today was built using plans by architect JJ Burnet, which included additions to the original building. It has a Baroque design and houses a statue of St Mungo and sculptures by George Frampton.
Glasgow Savings Bank eventually became TSB Bank Scotland plc in 1989 and merged with Lloyds Bank in 1995.
The building ceased to be used as a bank in 1999 and served as an Emporio Armani boutique and Jigsaw clothing store, which opened in 2003.
Can we expect a Dome style bar and restaurant? The company remains silent on the plans, but given the history and features of the buildings, it would be nice to see it restored to its former glory just like the Dome which also has a banking history – it was the headquarters of the Commercial Bank of Scotland in 1847.
Why is this important: The neighborhood is undergoing a kind of regeneration away from shopping and more towards hospitality. House of Gods will open nearby, and Soho House is likely to open in Merchant City. Hutchesons Hall may also be revamped into a new bar and restaurant. It’s good for jobs but also for attracting people to socialize.