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ISG Plc. has secured a contract to renovate 9 Charlotte Square, Edinburgh, which will be developed into a modern, high-quality office accommodation to meet the needs of SCOBAN Plc, a planned private bank.

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Estimated to cost £1 million ($1.51 million), the renovation work follows the signing of a 10-year lease on the property, which forms part of The Charlotte Square Collection. According to the contract, the renovation programme will refurbish and reconfigure all interior elements of the 5,624 square feet 9 Charlotte Square.

In order to meet the business needs of SCOBAN, the project will conserve the internal listed features of the six-floor Georgian townhouse. The former home of inventor and surgeon, James Syme, will also undergo exterior improvements including the overhauling of all sash and case windows.

9 Charlotte Square is one of the 19 properties that make up The Charlotte Square Collection, which is managed by Corran Properties. SCOBAN is currently occupying 22 Charlotte Square as a temporary head office during the refurbishment programme.

Estimated to take 23 weeks, the refurbishment project will be completed in July 2013.