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Business News Lead Story: Issue 226 3 Jan 2011

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NCP appeals against order to refund £5m Edinburgh

Mark Moran

NCP will be launching an appeal against a Scottish court’s ruling that it should refund a £5m payment made by the City of Edinburgh Council backed developer EDI relating to a proposed redevelopment of the Castle Terrace car park. NCP’s 25-year lease from the council on Castle Terrace did not include rights to build on the site.

In 2002 NCP approached EDI offering to assign its lease on the car park to EDI in exchange for a cash payment and a share in the profits of any...

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