Tuesday, August 9, 2022
Business£210m residential development in Edinburgh seeking buyers for first phases

£210m residential development in Edinburgh seeking buyers for first phases

EDINBURGH property developers are now looking for potential buyers for a multi million pound development project.

Hundreds of new homes will be available for the new property development at Edmonston in Edinburgh.

Alba Developments are looking for buyers for the first phase of the £210m developement which offers a range of housing types.

Arial view of the Edmonstone residential development in Edinburgh - Business News Scotland
Alba Developments, is seeking a joint venture partner or a land sale to develop 13.5 acres and is also in talks with potential funders to back build-to-rent homes on the site.

The first two phases have a mix of properties of 62% which are  housing and 38% flats.

Affordable housing makes up 36% of the total homes. Agents are inviting offers with a deadline of 4 December. 

The next two stages of the development contain a  further 300 homes, which are under offer to house-builders. The fifth and  final  phase  is currently consented for 84 homes.

Shane Ticklepenny, managing director of Alba Group said:  “These homes have been promised to the local community for a number of years now and Alba Developments will finally bring the site to life after so many years.”

The site is located in the former Edmonstone Estate next to Little France Park and areas of Greendykes and Moredun. 

The development sits next to the £1bn BioQuarter scheme from Edinburgh University, NHS Lothian, the City of Edinburgh Council and Scottish Enterprise across 167 acres.

Will Scarlett, managing director at Scarlett Land and Development, added: “The proximity of the site to Edinburgh Bio Quarter and the Royal Infirmary of Edinburgh will heighten appeal to institutional funds seeking to enter the build-to-rent market in Edinburgh for single family and multi-family housing.” 

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