Hunter REIM has acquired a £105m GDV residential development site next to Edinburgh’s BioQuarter.
The site, which forms part of the Edmonstone Estate three miles south of the city centre, has planning consent for 725 mixed-tenure residential units.
Of the new units, 370 will be single-family, build-to-rent homes and 129 (35%) of these will be affordable housing.
Andrew Moffat, managing director of Hunter REIM, said: “When Hunter REIM was formed in 1999, sustainability was a niche issue. Things have changed, and so have we. Today our focus isn’t on growth alone; it’s about growth plus transparency, social responsibility and environmental impact – and that’s what this exciting scheme will deliver.
“SHC Capital’s expertise in understanding the complexities of our site acquisition was invaluable. They helped us execute the transaction swiftly with the support of a private debt fund, enabling us to take a major step forward in our growth and strategic objectives.”
Tony Tadros, director at SHC Capital, which brokered the funding deal for the acquisition, added: “It was a pleasure to work with Hunter REIM, who demonstrated exceptional sophistication in navigating this complex transaction. We look forward to partnering further with them on their strategic expansion, and the delivery of hundreds of much-needed, sustainable homes in Edinburgh.”
