A rare opportunity to purchase a residential development site in Edinburgh city centre, with the benefit of minded to grant planning consent for 65 apartments.
The proposed development will see the erection of a six storey new build residential apartment block with associated landscaping, car and cycle parking. The consented scheme will comprise 65 apartments (25% of which are affordable) made up as below.
The scheme will also comprise 727 sqm of useable greenspace, while there is provision for 17 car parking spaces including: two wheelchair accessible spaces and three electric vehicle charging points.
( Agency Pilot Software ref: 11442 )
Location
The subject property is located in the Bonnington district of Edinburgh, approximately two miles North East of the city centre. Although historically, an industrial / commercial focused location, there has been a surge in residential development in recent years, with a number of recognised developers active in the area, including Miller Homes, Queensberry, Cruden, MNM and Build to Rent developers, Platform.
There are strong transport connections along Bonnington Road, providing direct access to and from the city centre, while the property is also only a short walk away from Leith Walk which is where Edinburgh’s Tram network passes through.
The Biscuit Factory and The Pitt Market, both popular food and drink markets are also located in close proximity to the subject site. Local schools include Broughton Primary School and St Mary’s RC Primary School with secondary education via Drummond Community High and Holy Rood RC High.
Accommodation
1 Bedroom apartment - 15 units - Total NIA 8,531 sq ft
2 Bedroom apartment - 37 units - Total NIA 27,478 sq ft
3 Bedroom apartment - 13 units - Total NIA - 12,450 sq ft
Total - 48,460 sq ft
Terms
Planning - The proposals for 14 Ashley Place have been minded to grant planning consent subject to Section75. Ref: 19/05092/FUL.
Proposal - Demolition of existing building and erection of 65 flatted residential development with associated landscaping, car and cycle parking; formation of pedestrian access from Ashley Place and associated infrastructure.
Price - The heritable interest (Scottish equivalent to English Freehold) in the site is offered for sale on an unconditional basis.
Further detail can be provided upon request.
VAT - It is expected the land will be elected for VAT.
Specification
- Prominent residential development site
- Site area extends to approximately 0.97 acre (0.39 hectare)
- Popular and well connected residential location means there is an opportunity for both build to sell or build to rent development
- Offers to purchase the site on an unconditional basis are invited