The G1 Group, already well-established on the west coast, has set up a subsidiary in Edinburgh called EH1.
Finance director John Young said redevelopment would be the “immediate focus” over the next three to six months, before moving on to assess wider opportunities.
He said: “EH1 has been created as a separate business with the aim of creating and maximising opportunities on the east coast. As the management structure will undoubtedly vary with that of the Glasgow-based G1 Group, we felt it was important that a separate identity was created for this new business.
“Towards the tail end of the year we will review our experience of the initial period. In the medium-to-long-term, we aim to extend the existing opportunities of the Edinburgh sites.”