Northumberland Street Properties has submitted plans for the conversion and extension of No.1 Broughton Market from office use to short-term let accommodation.
The proposal by 3DReid seeks to build on the existing structure's industrial heritage while making contemporary additions to the current property.
These will include a new staircase and a new gable end which ‘completes’ the historic warehouse form.
Residual land to the eastern end of the plot will be repurposed for building servicing requirements, including the introduction of air source heat pumps.
The proposal comprises seven new one and two-bed apartments, inclusive of a new penthouse.
Grant Rawlinson, director at Northumberland Street North, commented: “No.1 Broughton Market will become the fourth property in our portfolio of short let accommodation, building on an existing reputation for innovative design in purpose-built and professionally managed accommodation within Edinburgh.”
The group operates three other city centre properties on the Canongate, Queen Street and Castle Street, consisting of 35 apartments, of which the majority are one bed or studio units.
The portfolio is designed, priced and marketed as an alternative to four or five star hotel accommodation, for those who wish to stay for longer periods.
The properties are managed by Altido, based close to the property, which provide property and letting services for short-lets across Europe.
A statement from Northumberland North noted that in its other similar properties there have been no instances of anti-social behaviour recorded and no complaints have been made to the City of Edinburgh Environmental teams.
The Edinburgh portfolio currently, either directly or indirectly, provides employment for approximately 20 staff.
Chris Dobson, director at 3DReid, added: “It’s been a real pleasure to be afforded the opportunity to consider a contemporary intervention to this location, one which seeks to draw upon its rich industrial heritage and idiosyncrasies, whilst further diversifying the use and animation of the area.”
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