A joint venture has submitted plans for the speculative development of 146,745 sq ft of urban logistics accommodation on Bankhead Avenue in Sighthill, Edinburgh.
Called Capital Park, the proposed project will comprise 18 leasehold units of varying sizes on a seven-and-a-half-acre site. A bespoke 15,000 sq ft unit is already under offer to a national builders’ merchant.
Capital Park will be jointly delivered by industrial developer Chancerygate and investor Bridges Fund Management. It will have a gross development value in excess of £30 million and replace Grayfield House, an office building currently being demolished.
Chancerygate development director, Mike Walker, said, “Submitting a planning application for this site is another key milestone in bringing forward this development. We are very encouraged by the high interest we have received from potential occupiers to date. Once delivered, we believe Capital Park will be a best-in-class trade counter and multi-unit urban logistics development perfectly placed for Edinburgh’s increasingly active and dynamic SME sector.”
Guy Bowden, partner at Bridges, added, “The rise in e-commerce is driving strong demand for urban and last-mile logistics sites. We’re delighted to partner with Chancerygate again, and we’re confident that Bridges’ extensive experience of delivering some of the most sustainable industrial developments in the country will help ensure that Capital Park is highly attractive to potential occupiers. Over time, this will support the growth of the local economy in Edinburgh.”