UK: Moda Living and Osborne+Co have acquired a 15.5-acre site in Edinburgh.
The JV partners plan to create a new residential-led district with a GDV in the region of £350 million
The Saica Packaging factory site at the Edinburgh Gateway rail and tram interchange will be developed in to a new urban quarter featuring more than 1,000 homes across a mix of tenures, including a substantial affordable housing provision.
It will also include workspace and community amenities, as well as access to a new transport hub and public realm offering “plentiful green space and placemaking initiatives”. The JV partners said their vision for the site aligned with the City of Edinburgh Council’s City Plan 2030 to transform the west of the city into a “high-density mixed-use extension to the city with a focus on placemaking, sustainability, connectivity and biodiversity”.
Pre-application discussions, including community engagement and consultations, will start shortly with an outline planning application expected to be submitted within a year.
Oscar Brooks, director at Moda Living, said: “This is a hugely important site for Moda. Working with Osborne, we are excited to deliver a fantastic next-generation neighbourhood that will form the beating heart of west Edinburgh, providing much-needed new homes along with outstanding new public realm and intended connectivity with the transport interchange at Edinburgh Gateway.”
“As with all Moda neighbourhoods, this site will be designed, built and operated around ESG, targeting net zero operations, outstanding resident service and experience, health and wellbeing and using the latest innovation and digital infrastructure to deliver an unparalleled customer experience. We have solid confidence in the Scottish market and as a family company with a long-term view, it is crucial we continue to invest, develop and operate at scale while remaining a trusted partner of the city,” he added.
Will Hean, development director at Osborne+Co, said: “The acquisition of the Saica site is an exciting and evolutionary addition to our portfolio, again reinforcing our commitment, strategy and long-term vision in Scotland. We are looking forward to continuing our successful partnership with Moda to realise a truly transformational opportunity.”
The development is the third planned by the JV between Osborne+Co and Moda.
