The transformation of the former Donaldson’s School for the Deaf site in the Capital has been supported by a £14.2 million package from Royal Bank of Scotland.
City and Country (Edinburgh) Limited, a joint venture between UK and European Investments Limited and City and Country, will use the funding to progress the first two phases of the building’s conversion into 110 apartments.
Located in Edinburgh’s West End and surrounded by 18 acres of grounds, the building was originally constructed in the 1840s by renowned architect William Henry Playfair.
It is now a Category-A listed property.
The building previously hosted a specialist school for deaf children which was relocated to Linlithgow in 2008.
Prices for the new apartments are expected to range from £250,000 to £2,500,000.
Helen Moore, managing director of City and Country said: “This major development in the heart of Edinburgh’s West End is set to become one of the most sought-after addresses in the Capital.
“After having lain empty for so many years, it is wonderful to see this iconic building being brought back into beneficial use, for both current and future generations to enjoy.”