SHEPHERD Chartered Surveyors is bringing to market a ‘rare’ development opportunity just off Leith Walk in Edinburgh.
The 1.5-acre site is situated on the north-east side of McDonald Road in the Warriston district of Edinburgh, 1.5 miles north east of city centre.
The properties comprise a mix 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 described as ‘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 five-seven 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.”
