Shepherd sets closing date on rare development opportunity in heart of Edinburgh
Shepherd Chartered Surveyors has set a closing date of 12:00 noon on 6th November on a rare income-producing development opportunity in a highly sought-after Edinburgh district.
The site is situated on the north-east side of McDonald Road just off Leith Walk in the Warriston district of Edinburgh 1.5 miles north-east of Edinburgh’s city centre.
The 1.5-acre site is located close to generous public greenspace and has well-established public transport connections with multiple bus stops and the tram line within walking distance.
The properties comprise a mixture of one and two storey office, showroom and warehouse buildings. The site includes a yard of which part is allocated to parking for up to 20 cars. The properties are income producing, with a weighted average unexpired lease term of three years.
A feasibility study has been undertaken by 56 Three which proposes two residential buildings of 5-7 storeys of 235 bedspace Purpose Built Student Accommodation (PBSA) and 75 Build to Rent (BTR) private rented sector apartments.
Emily Anderson, Associate at Shepherd Chartered Surveyors, said: “This exciting site is a real one-off and has several potential end uses, with no current zoned alternative use within the Edinburgh Local Development Plan. Accordingly, it would be suitable for residential development for private sale or alternative commercial uses.
“The site is identified in the proposed Edinburgh City Plan 2030 for New Housing. This supports its potential for future residential development.
“It does not form part of the high concentration student population area and therefore may also be suitable for PBSA development. Further, the surrounding area is predominantly residential, supporting the potential of the site for residential development.
“The site has been extremely well received since launching onto the market with interest from local, national and international parties and as such we have been instructed by our client to set a closing date.”
Offers are invited. Interested parties should contact the sole selling agent on 0131 225 1234.
ENDS
For further information please contact Emily Anderson or Ian Hannon on 0131 225 1234.
