Developers in both the UK and abroad are expected to battle it out to secure the largest city centre site on sale in 10 years in Edinburgh.
RBS today officially released for sale its former office and data centre site at Dundas Street.
The 5.89 acre plot is the largest site to be sold in the city for more than a decade lies adjacent to the capital’s historic New Town, which commands some of the highest residential values in the UK outside London.
Dubbed, New Town North, the site offers a rare opportunity to create a new ‘quarter’ for the city, extending the New Town and taking advantage of Edinburgh’s unprecedented economic growth over recent years.
New Town North is the largest development site remaining in central Edinburgh and is expected to appeal to the full spectrum of city centre uses including residential, build to rent housing, hotels, offices and leisure.
An RBS spokesperson said: “We are excited by the marketing launch of New Town North, which is an exceptional opportunity to redefine this site as a striking new neighbourhood in Edinburgh.
“We expect to attract global interest and have designed our marketing campaign to ensure that the site attracts the consideration which it merits.”
James Thomson of marketing agents Cushman & Wakefield added: “Opportunities to complement a design icon are very rare. New Town North will be the natural extension of Edinburgh’s New Town, and a fantastic chance to create a premium development in the city centre.
“We are looking forward to seeing the market’s creativity at work.”