Regeneration specialist, Summix Capital, has submitted a planning application for its residential-led, mixed-use development at Edinburgh Gateway, the site of the former Saica packaging facility on the western fringe of the city.
The plan is for more than 950 homes on the 15.5 acre site at the junction of Turnhouse Road which is allocated in the Council’s City Plan 2030 for residential-focused redevelopment, some of it build-to-rent. There will be a 170-bed hotel.
A new network of streets and public spaces will integrate with the surrounding area which is being turned over to housing with developments by Barratt Redrow, Dvid Wilson, Cala, Miller Homes and Taylor Wimpey.
Stuart Black, development director for Summix Capital, said its proposal was a “unique opportunity to redevelop one of the last major pieces of brownfield land in the city”
Paper and cardboard company Saica has relocated to a purpose-built facility at Deans Road in Livingston.
Scotland running out of key space
Scotland is running out of quality out-of-town retail warehouses and modern top grade industrial space.
According to Savills, lettings in the Scottish out-of-town retail warehouse market are falling because the vacancy rate now stands at just 4.3%, below the national average of 4.7%.
Strong demand is being met by failing tenants with no new space being developed.
In the last 18 months, the most active operators in Scotland have been Home Bargains, acquiring six units, followed by B&M and Sainsbury’s who have each taken three
The retail outlook follows a report from Savills noting that there is no Grade A space available in Scotland and of the vacant supply, just 33% is Grade B.
Ross Sinclair, director in the industrial agency team at Savills Scotland, comments: “The build-to-suit (BTS) route appears to be the only viable option for meeting the strong prevailing demand for requirements exceeding 100,000 sq ft. Positively, there are currently an encouraging number of larger enquires which should stimulate such development.”
Aurora lettings
Two more businesses have moved into Aurora Aberdeen under a £5million effort to support the regeneration of Union Street.
True North Advisors and NES Fircroft have become the latest tenants to take space in the landmark office complex, which will bring 500 workers into the city centre once fully let.
The SRE Group has turned the former Caledonian House at the corner of Union Street and Union Row into Aurora Aberdeen – a 45,000 square foot hub of modern, flexible ‘Grade A’ office space.
#Maybury #plan #shortage #top #units #Aurora #lets #Daily #Business