Plans submitted for £30m 'urban logistics' development on former office site in west Edinburgh
Called Capital Park, the proposed speculative development on Bankhead Avenue in Sighthill will comprise 18 leasehold units ranging in size from just under 4,300 square feet to 17,000 sq ft. A bespoke 15,000 sq ft unit is already under offer to a national builders’ merchant.
Capital Park is to be jointly delivered by industrial developer Chancerygate and specialist investor Bridges Fund Management. It will have an overall development value in excess of £30m, and will replace Grayfield House, a 90,000 sq ft office building that is currently being demolished. Initial plans were outlined by the pair last year.
Neighbouring occupiers to the proposed development, which is some five miles south-west of the city centre, include car dealer Evans Halshaw, Tool Station, Edinburgh College, Edinburgh Napier University and Burton Biscuit Company.
Chancerygate development director Mike Walker said: “Submitting a planning application for this site is another key milestone in bringing forward this development.
“We are very encouraged by the high interest we have received from potential occupiers to date. Once delivered, we believe Capital Park will be a best-in-class trade counter and multi-unit urban logistics development perfectly placed for Edinburgh’s increasingly active and dynamic SME [small and medium-sized enterprise] sector.”
Founded in 1995, Chancerygate is the UK’s largest multi-unit industrial developer and asset manager. It currently has more than three million sq ft of industrial space under construction or ready for development across 23 sites ranging from Livingston, West Lothian to Bournemouth.
Guy Bowden, a partner at Bridges, said: “The rise in ecommerce is driving strong demand for urban and last-mile logistics sites.
“We’re delighted to partner with Chancerygate again, and we’re confident that Bridges’ extensive experience of delivering some of the most sustainable industrial developments in the country will help ensure that Capital Park is highly attractive to potential occupiers. Over time, this will support the growth of the local economy in Edinburgh.”
Bridges Fund Management has been working in partnership with Chancerygate on projects for more than a decade.
The agents appointed for Capital Park are Galbraith & Co and Ryden.