Having acquired the airport back in 2012, Global Infrastructure Partners (GIP) has revealed the start of a brand new £80 million investment into the site, including a huge expansion and first-phase extension.
With plans to complete the project by the end of next summer, the airport’s owners have expressed their excitement surrounding the extension, which they say will offer several “new retail opportunities” as well as food and beverage units, wash rooms, retail storage, let table property, office space and luxury VIP lounges.
Work on the project has already begun, and the extension will be located alongside the existing gate 2 area — adding to the airport’s £220 million capital investment programme over the next five years.
Edinburgh Airport CEO Gordon Dewar commented on the benefits of this enormous project, stating that the new extension will help to create more jobs, support the economy and make Edinburgh and Scotland more accessible to visitors from all over the world.
As well as the retail facilities, the expansion will also provide extended immigration, customs and international reclaim facilities, a new domestic reclaim hall, large seating areas and six new gates, as well as aircraft stands.
Edinburgh Airport is now the UK’s sixth busiest airport, and GIP have stated that the expansion is necessary in order for the site to be able to handle its record number of passengers. These numbers have continued to grow as more and more people travel from far and wide to experience all that Edinburgh has to offer.
In fact, the expansion will allow the airport to deal with its forecasted growth of up to 16.5 million passengers by 2021 — a reflection of the growing interest in Edinburgh worldwide.
When discussing the necessity of the expansion, Dewar said: “This is a major investment for the capital and Scotland and further establishes Edinburgh Airport as one of the most innovative and forward-thinking airports in the UK.
“We are Scotland’s busiest airport and the fastest growing airport in the UK and that demand is only going to grow with the record number of passengers we expect to see passing through the terminal.”
Dewar also remarked that it has now become vital that the airport has the “first-class infrastructure” that this project promises in order to handle the growth.
Last year alone, aeronautical turnover came in at £88 million, with retail up a massive £6 million in the same period. Also in 2016, a total of 33 airlines traversed 188 routes and carried 12.4 million passengers to and from Edinburgh, which helped the site achieve a rise of 11% on 2015.
People travel to and from Edinburgh Airport for any and every reason, with domestic and international travellers both accounting for 35% of passengers, and business traffic making up the remaining 30%. The airport’s top ten international destinations include destinations from all over the world such as Madrid, Dublin, Amsterdam, Malaga, Geneva, Copenhagen and Barcelona. There are also up to 53 flights a day to the big four London airports.
This planned extension is the latest project to expand the site, following 18 months of retail improvements including new brands and refurbished stores.
These figures reflect the growing interest in Edinburgh itself as a city, as visitor spending has increased by £300 million in the last five years.
Located in central Edinburgh, one of the many benefits of Quartermile is its proximity to Edinburgh airport. For busy professionals travelling across the globe to families journeying on regular holidays abroad, being within easy reach of one of Europe’s best airports is a not insignificant benefit to the luxury apartments at Quartermile.