Progress on the development has, so far, been largely underground with contractors carrying out strengthening works on the Victorian railway tunnels running beneath the site. Now, construction activity has started above ground with the first buildings’ phase earmarked for completion by early 2017.

The Haymarket is being developed by Edinburgh Haymarket Developments Ltd, a joint venture between Interserve and Tiger Developments. It is one of Edinburgh’s biggest commercial projects of the last 10 years and is expected to create around 3,500 jobs.

Interserve development director, David Westwater, said: “We are continuing to carry out strengthening works to the tunnels, but to see works commencing above ground is very satisfying and justification for all our hard work below.

“With excellent access to train, bus and tram networks, the benefits to potential occupiers are being increasingly recognised. We are looking forward to an exciting 2015 where we will see The Haymarket really start to take shape, and are anticipating that our first office occupiers could be in place as early as the first quarter of 2017.”

Tenants already signed up for The Haymarket’s initial development phase include a Premier Inn Hotel, Q Park, Tesco and serviced apartments’ provider Staycity. Food chains Prezzo and Pret A Manger have committed to the second development phase and advanced discussions are currently taking place with other occupiers for a further 70,000 square feet of retail and office space.