Douglas-based Artisan Real Estate Investors Limited’s New Waverley development has won a UK property accolade.

The £200 million regeneration scheme in Edinburgh’s Old Town won the award for the UK’s best regeneration project at the Royal Institute of Chartered Surveyors (RICS) 2017 annual UK awards, held in London.

New Waverley is being coordinated by Artisan Real Estate Investors and has already won the regional RICS award for best regeneration project in Scotland earlier this year.

The award win recognises New Waverley’s current status as one of Europe’s most important city centre regeneration projects, taking place in the World Heritage Site of Edinburgh’s Old Town.

Jaco Jansen, Artisan’s boss, said: ’We are all thrilled that New Waverley has won this major national accolade, fighting off stiff competition from major projects across the rest of the UK. We are especially pleased to be recognised by a widely-respected UK organisation that rewards excellence in design and architecture.

’For the last two years, we have worked hard to make New Waverley an integral part of Edinburgh’s Old Town, breathing new life back into a formerly neglected part of the city centre.

’This award shows that our efforts are now paying off and I am delighted that New Waverley’s considerable impact is being recognised on a national stage by our peers and public alike.’

Completed so far as part of the first New Waverley development phase are two hotels, which opened in January 2016, and The Arches, a row of 19 Victorian arches which have been transformed to create a leisure and retail district for the city.

In December last year the new 146-flat Aparthotels Adagio on Edinburgh’s Royal Mile opened for business, overlooking a new football pitch-sized public square - becoming the first significant public space to open in the city centre for more than 50 years.

In July 2017, it was announced that some 2,900 civil servants will be located at New Waverley’s next phase office development.