Craighall Road development
West Coast makes first move in capital
An expanding Scottish property firm is behind a key project in Edinburgh as it targets opportunities nationwide.
West Coast Estates will transform a vacant commercial site on Craighall Road to create a mixed use development comprising a neighbourhood supermarket, children’s nursery and residential apartments.
Sainsbury’s has already been secured as the retail operator, having worked with West Coast Estates previously during the expansion of its Local network in other regions.
The £2 million scheme will provide West Coast Estates with a foothold in Edinburgh, with the firm already active in Aberdeen.
Director Iftikar Mian said: “We believe the plans will enhance the area by bringing valuable amenities and additional residential provision. The work will revitalise a property that has sat empty for five years and is in need of investment. We look forward to breathing new life into the site.”
The Edinburgh development comprises 14,000 sq ft of space which has most recently been used as a car showroom and workshop with adjoining licensed premises.
West Coast Estates has secured planning consent for the remodelling of the site and is moving forward with preparatory work. A nursery operator is being sought to operate from the site and the residential units will be made available for sale or lease upon completion.
Mr Mian added: “Mixed-use developments are at the heart of the West Coast Estates strategy, which places great emphasis on reinvigorating neighbourhoods. The community benefits extend beyond providing additional services, in this case retail and childcare, by supporting job creation. The economic and social advantages go hand in hand.
“We view Craighall Road as a significant milestone for West Coast Estates as we broaden our reach. West Coast Estates is in an enviable position as a cash-positive business, enabling us to react quickly to development opportunities as they arise.
“Our growing portfolio is supported by an ongoing development pipeline totalling £10m across the industrial and retails sectors, underlining our commitment to the Scottish market.”
Sainsbury’s spokesperson Angharad Lynch said: “We are very much looking forward to opening a Sainsbury’s Local. It will bring more convenient shopping to the doorsteps of local people, while creating around 20-25 jobs which will predominantly go to local people and supporting a local charity. We look forward to welcoming customers to our new store.”
West Coast Estates, a private family-owned property investment and development company based in Aberdeen, was founded by Iftikar Mian and his brother Sarfraz Ali in 1991. It is established in sectors including commercial and residential development as well as community projects.