Gateway project on market
Airport development site put up for sale
A planning application is already pending for Edinburgh International Business Gateway (EIBG) and is due to be considered in the Autumn.
JLL and Savills were appointed by owners Murray Estates to sell the site.
Research by JLL into Edinburgh’s office market has shown that demand is growing for space in west Edinburgh, previously seen as a pressure release for the high demand city centre market.
Occupier take-up in west Edinburgh totalled 130,000 sq ft in 2015 with 115,000 sq ft having been transacted in the last quarter alone. The increase in demand has seen a corresponding shortening of supply in the west of the capital.
The Gateway site will deliver 384,874 sq ft of space and is close to the new railway station which is due to open this year, connecting the east coast rail line with the tram network and is one stop from the airport.
Supported by the Scottish Government, Scottish Enterprise and the City of Edinburgh Council, EIBG is said to have the potential to benefit from Edinburgh’s City Deal announced at the latest Westminster budget. EIBG is part of Edinburgh’s wider strategic expansion to the west.
Cameron Stott, director at JLL in Edinburgh, said: “Given the paucity of high profile mixed use sites for development in Edinburgh, this is a fantastic opportunity.”
Nick Penny head of Savills, Scotland said: “With negotiations underway regarding the City Region deal, we understand that the A8 corridor around the airport and the Edinburgh International Gateway site will form one of the key areas of focus.”
Simon Parsons from Scottish Enterprise said: “We recognise the proposed International Business Gateway represents a significant opportunity to stimulate new investment into Scotland and enhance Edinburgh’s global connectivity.
“The project forms part of an agreed long-term vision for West Edinburgh intended to make best economic use of its strategic location in attracting international investment and supporting continued growth and expansion at Edinburgh Airport.”