Property round-up

Granton plan; Cumbernauld shops; Skypark’s new lease

Proposed Granton waterfront

Granton waterfront (artist’s impression)

A proposal to transform Edinburgh’s largest brownfield site at Granton Waterfront into a new coastal town will be presented to councillors next week.

A new coastal city park linking Granton Harbour to Gypsy Brae will re-connect the city with its waterfront.

The scheme will involve 3,500 homes of which at least 35% will be affordable, a school, medical centre, new cycling and walking routes.

With an overall gross development value of around £1.3bn, the Council is committed to investing around £196m to accelerate the regeneration, attracting significant public and private sector funding.

The Council’s housing association partners are currently delivering around 700 new homes for sale and rent within the Granton Waterfront area.

Cumbernauld scheme fully let

A £20 million retail development in Cumbernauld by Glasgow-based property development company London & Scottish Investments is 100% let and has created 225 jobs.

The 90,000 sq ft scheme, on the site of a derelict quarry in Westfield Road, was funded by Tracey Investments.

Tenants include Matalan, Home Bargains, Food Warehouse and Pets at Home, some new to Cumbernauld. Anchor stores Marks & Spencer and Aldi have added key high street brands to the area. 

A recent report from Businesses in Scotland, analysing employment and business growth, published by the Scottish Government, highlighted North Lanarkshire as showing clear signs of growth.

Skypark lease

Skypark, Scotland’s biggest in-town business park, has agreed a new five-year lease with existing tenant Ceridian Europe to expand its office space in Skypark 5. 

A tenant since 2017, Ceridian manages human capital for brands such as Costa Coffee, Moto Hospitality and Halfords. Ceridian is taking 10,998 sq ft,  adding 4,660 sq ft on a new five-year lease. 

Skypark’s strategic lettings adviser, Angela Higgins of Resonance Capital said: “Tenant retention continues to go from strength to strength and with a major transformational investment programme underway, this trend is set to continue.”

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