Developer eyes student or residential consent following double deal success in Edinburgh
Scarlett Land and Development Ltd (SLD) has acquired two adjoining sites in central Edinburgh on London Road for private client Summix Capital Limited.
The acquisitions end a successful first years’ trading for SLD, which amounted to a total of c. £78 million in deal value.
The sites were under separate ownerships with a combined area of approx. 0.75 acres. 61 London Road was marketed by Colliers International, whilst 63 London Road was acquired off-market from a private client.
Summix is now reviewing options for student housing or residential planning consent on the combined sites. Located directly opposite Meadowbank Stadium, the sites represent a strategic purchase in an area only 1.5 miles from Edinburgh City centre and due for major regeneration with the imminent redevelopment of Meadowbank Stadium by City of Edinburgh Council.
Stuart Black of Summix said: “Scarlett Land and Development provide an exceptional level of client service and market insight enabling us to acquire the adjoining sites.”
Will Scarlett from SLD added: “Summix have been highly strategic in the acquisition of two adjoining sites in such a strongly emerging part of Edinburgh; their ability to move quickly and decisively has been a key factor in this positive outcome.”
These acquisitions end an active first years’ trading for Scarlett Land and Development.
In the 13 months since the company was formed, SLD has bought or sold 26 sites, with 12 deals in contract; combined, these total c. £78m in deal value.