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Four make shortlist for Royal Mile hotel

CONTRACTS - EDINBURGH

FOUR firms have been shortlisted for a £20 million deal to build a bank and luxury hotel on Edinburgh's Royal Mile.

Balfour Beatty, HBG, Mace and Sir Robert McAlpine have submitted bids and are waiting to hear from project manager Kilmartin Property Group.

Work will involve redeve loping the George IV Bridge building in Edinburgh's city centre, formerly the Lothian Regional Council building.

Under the plan almost all the 1960s block will be removed and what remains will be converted into a Bank of Scotland branch, a hotel, restaurants and retail units.

Planning consent was granted by the city council last year.

Completion is scheduled for 2008.