Caledonian Trust has put 151 London Road (St Margaret’s House) in Edinburgh up for sale.
The site has planning consent for the development of a mixed-use scheme, comprising 361 purpose-built student accommodation (PBSA) and 107 residential units.
The PBSA element will provide 277 studios and 84 cluster units and the residential component will feature 107 homes, with 25% designated as affordable housing.
The trust has appointed Scarlett Land and Development to market the 1970s-built property, which has been owned by Caledonian Trust since 1988 and was previously let to the Scottish government. The property is currently let to Edinburgh Palette, a social enterprise and charity supporting creative businesses.
Michael Baynham, director of the Caledonian Trust, said: “151 London Road has been an important asset for Caledonian Trust for many years, and we are committed to ensuring that its redevelopment will benefit both the local community and the wider city of Edinburgh. We recognise the valuable work of Edinburgh Palette and the positive impact it has had on the local creative sector, but we also understand the urgent need for new homes in this area. This development presents a significant opportunity to help address the city’s housing challenges and support the long-term regeneration of the region.”
Will Scarlett, founder of Scarlett Land, added: “151 London Road is one of the last large-scale sites in Edinburgh available for PBSA development, especially considering recent changes to planning policies and competing demands for space. The implemented student accommodation and residential consent complements the well-established student and residential community in the area, benefiting from excellent connectivity and local amenities.”
