GSS Developments (Aberdeen) has secured a loan from Puma Property Finance to fund the development of a 122,000 sq ft urban logistics development near Edinburgh Airport.
The EDI Approach scheme will be delivered on a site that previously housed a Continental tyre factory, which closed in 1999.
The funding will be used to deliver 13 energy-efficient units ranging from 4,000 sq ft to 20,500 sq ft. The development forms the first phase of the wider 700,000 sq ft EDI Approach masterplan.
Tim Stevenson, director at GSS, said: “We are delighted to have obtained the support of Puma for the delivery of our first set of units at EDI Approach. This site is going to provide much needed modern industrial BREEAM Excellent buildings to the Edinburgh occupational market.
“The strategically located site at Newbridge sits minutes from the M9/M8 intersection providing unparalleled road connectivity across Scotland’s central belt. We have found the Puma team very positive partners who are pragmatic in their approach, which made the entire funding process a very smooth experience.”
Rahul Malde, director at Puma Property Finance, added: “We’re delighted to support GSS Developments with this loan facility to bring forward a landmark low-carbon industrial and logistics scheme in a key strategic location near Edinburgh Airport and the city of Edinburgh.
“EDI Approach exemplifies the kind of high-quality, sustainable development we are committed to financing, delivering modern, energy-efficient accommodation that meets the evolving needs of occupiers. This marks our first industrial development loan in Scotland and our first partnership with GSS, who have been a pleasure to work with from the outset of this financing.”
