Charitable trust IMPACT Scotland, in partnership with the Scottish Chamber Orchestra (SCO), have developed a proposal to create a new “world class” arts centre in the heartof Edinburgh.

The facility is located directly behind Dundas House at 36 St Andrew Square. It will be the new home of the SCO, and will also be a venue for public engagement, conferences and education.

The developers say that he centrepiece will be a 1,00 seat auditorium, along with a studio that will provide recording, recital and rehearsal space that will “rival the best in Europe.”

The plans also state that the historic Royal bank of Scotland branch will carry on operating as a stand-alone branch. A new restaurant, bar and café facilities will also be created to complement the development.

IMPACT Scotland will take the responsibility for overseeing the construction of the new building and will operate and manage the complex.

The trust will soon begin the process of inviting expressions of interest from architect-led design teams, along with an acoustic expert, with the intention of making appointments early in 2017.

Initial talks with the Scottish Government and the City of Edinburgh Council on possible public sector partnerships have been positive and are ongoing.

Proposal backers said that the auditorium would meet the long recognised need for a purpose built, mid-sized performance venue in Edinburgh, that will combine excellent acoustics with access for all forms of popular music, jazz, folk, chamber and other small classical music groups as well as solo and song recitals and small dance ensembles.

Sir Ewan Brown, who has been chairing the IMPACT Scotland Project Board said: “I see this is a global opportunity for a global city, combining the best of the old and the new to establish a venue that will attract performers, audiences and visitors from around the world.”