66 homes planned
Queensberry acquires first residential site at New Waverley
New community: the project is a mix of commercial and residential
Queensberry Properties (QPL) has acquired the first residential block in the £200 million mixed use development emerging behind the Royal Mile in Edinburgh.
QPL, a partnership between Cruden Homes (East) and Buccleuch Property, will develop 66 homes on the 7.5 acre site.
The ‘New Waverley’ project is being led by Artisan Real Estate Investors and will include 1, 2 and 3-bedroom apartments, mews houses and maisonettes, along with 11,000sq ft of associated retail and commercial space.
The UK government is the principal tenant in the office buildings which will include a new hub for almost 3,000 HM Revenue & Customs employees.
All the residential properties will be designed exclusively for the development, with 59 underground car parking spaces for residents.
Construction will start early next year with the first homes ready for occupation in the summer of 2020.
Steven Simpson, director of Queensberry Properties, said: “This is a hugely significant deal for us. We have recently delivered some of Edinburgh’s most successful prime residential developments, but our acquisition of what will be the first residential element to be developed within New Waverley takes us to an exciting, new level.
“New Waverley is widely recognised as one of the UK’s most important city centre regeneration projects, so naturally, everyone at Queensberry Properties is immensely proud to be part of this flagship venture.”
Other property news
* Work has started on a residential development that will transform long-term disused land at a prominent section of Leith’s waterfront.
The Waterfront Plaza project by Cala Homes (East) located opposite Ocean Terminal will see the creation of 388 homes, along with 1500 sq mtrs of flexible workspace units inspired by The Arches at Market Street near Waverley Station.
Urgently-needed affordable homes also comprise a key element of the development, with 82 to be built and brought to market by a housing association with a further 15 units delivered through the council’s golden share model.
* Rocket developer Skyrora, set to become the first company in half a century to launch satellites into full orbit, has signed a five-year lease on premises in Princes Street, Edinburgh, and will relocate from its base in nearby St Colme Street.
The firm is aligned with the UK Government and UK Space Agency’s plans to operate from a new spaceport in Scotland – and aims to provide responsive and dedicated UK-based launches.