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Property round-up

Melville Gate; SBHA; Royal High; AECC site; Bothwell St; Shed5

James Barnes: business park plan

Plans have been submitted for a business park at Sheriffhall South, near Lasswade, Midlothian.

The proposal is for four class 4 use office buildings totalling 70,000 sq ft in total, provision of 295 parking spaces and a new vehicle access from Gilmerton Road. 

The site was identified for business use 12 years ago although it is within the Green Belt.

The application for Melville Gate is led by former Dobbies CEO James Barnes, director of landowner, Melville Nursery, together with development consultants, Advie Properties.

Once constructed the business park will be targeted at local businesses who have a ‘green’ agenda. 

Bothwell St offices plan

An atrium features in the design

Mosaic Architecture + Design is planning the redevelopment of 50 Bothwell Street, Glasgow, as office accommodation with retail, a café and business hub at street level. 

The building is held within Orion European Real Estate Fund V and has been vacant since 2017.

Along with comprehensive internal alterations creating a light-filled atrium, the proposals include plans for a redevelopment of the fifth and sixth floors within the roof to create office floorplates, flooded with natural light and landscaped roof terraces.

The design is a collaboration between Mosaic Architecture + Design and the international design studio 10 Design.

Bank deal for Borders homes

SBHA is building 300 more homes

Scottish Borders Housing Association (SBHA) has secured a £58 million facility from Royal Bank of Scotland to support investment in current homes and the delivery of 300 new homes over the next seven years.

SBHA owns and manages more than 5,600 homes across the Scottish Borders, from Skirling in the West to Yetholm in the East, and from Heriot in the North to Newcastleton in the South.

With current new build sites in Peebles and Kelso totalling 18 homes, SBHA’s plan to deliver 300 affordable homes will provide a significant boost to the communities within the Borders.

Former conference centre site on market

A prime residential development opportunity on the site of the Aberdeen Exhibition and Conference Centre in the popular Bridge of Don has been launched to the market.

Silverburn Park, three miles north of Aberdeen City Centre, is being jointly marketed by Savills and Shepherds.

The 38-acre site has been cleared for development and planning permission in principle was issued in June this year for up to 500 homes. 

In addition to housing, the development of the site will generate additional funds via a Section 75 agreement to help with schooling and healthcare provision as well as road improvements, new footpaths and cycling pathways.

Former Royal High School plan approved

Former Royal High School Edinburgh

New lease of life: the former Royal High School

The former Royal High School building in Edinburgh is to be transformed into a £55 million national centre for music after the city council agreed to the lease of the historic property to  the Royal High School Preservation Trust. 

The Trust plans are for a new National Centre for Music with clearly defined spaces for classical music education, community access and engagement and performance.

St Mary’s Music School remains at the heart of the proposal which includes a café, gallery and visitor centre, set in public gardens.

The design team on the project includes Richard Murphy Architects, architects, design and accessibility; Simpson and Brown, conservation architects; Optimised Environments (OP-EN), landscaping and environment; and David Narro Associates, civil engineers.

Industrial portfolio acquired

Shed5 has acquired a multi-let industrial portfolio comprising three estates in Glasgow, Linwood & Kirkintilloch, advised by Galbraith.

The £4.36 million off-market deal reflects a net initial yield of 10.06% and a capital rate of £24 per sq ft. 

Riverpark Industrial Estate in Linwood, adjacent to the Tesco Superstore comprises 24 units and extends to 154,132 sq ft. The passing rent is currently £342,586 p.a. (average of £2.20 psf).

Four units at 22-28 Carmyle Avenue Cambuslang extends to approximately 20,709 sq ft.  The passing rent is currently £83,041 p.a. (average of £4.00 psf).

Whitegates Industrial Estate in Kirkintilloch comprises 5 units and extends to 7,883 sq ft.  The passing rent is £40,941 p.a. (average of £5.19 psf).

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