Developers Osborne+Co and Moda Living have acquired a 15.5-acre site in Edinburgh on which to build a new 'residential-led district'.
The joint venture will, subject to planning, look to transform the Saica factory site at the Edinburgh Gateway rail and tram interchange into new houses and amenities.
The masterplan includes homes across a mix of tenures - including a 'substantial' affordable housing provision - along with workspaces, as well as a public realm and access to a new transport hub.
It has the potential to accommodate in excess of 1,000 homes across the pricing spectrum in a mix of studio, one, two and three-bedroom apartments and townhouses.
The plans also align with 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 place-making, sustainability, connectivity and biodiversity”.
The development is aiming to achieve the global ESG benchmark and three-star Fitwel accreditation.
Pre-application discussions, as well as community engagement and consultations, will begin within the coming months, and the team aims to submit outline planning to City of Edinburgh Council within the next 12 months.
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.
“As a priority, we will work in collaboration with all our vital stakeholders to shape and deliver on a vision to create a neighbourhood that enriches the existing, thriving community that is designed around accessible and sustainable housing options.”
Oscar Brooks, director at Moda Living, added: “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.”
The development is the third lined-up by the joint venture between Moda and Osborne+Co.
Outline planning has been submitted for Lancefield Quay in Glasgow for 730 units, which followed plans to develop a mixed-use campus at Belfast Waterside, with more than 600 residential units and a million sq ft of office space.
Saica will be Moda’s second major development site in Edinburgh and fourth in Scotland, making it the country’s largest build-to-rent developer operator.
Last month, the 500-home Moda, The McEwan, welcomed its first residents. Osborne+Co has also acquired several sites in Glasgow.
Savills acted for Saica Packaging in the sale.
Ben Brough, Savills' head of residential development, said: “In a hotly contested disposal process their vision for a truly mixed-use gateway development for Edinburgh was compelling.”
Adam Haycock, regional director Scotland for Saica, said: “When it came to assessing the multiple bids received for this site, Saica selected Moda and Osborne due to the consortium’s commitment to creating a new neighbourhood with appropriate amenities and infrastructure.”
Spain-based paper and cardboard company Saica is active in 10 European countries. It will shortly be moving to a new purpose-built facility in Livingston.
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