Places for People completes waterfront site deal

Places for People, property management and development company, has acquired 0.29 ha (0.72 acres) on Edinburgh’s Waterfront Avenue from Waterfront Edinburgh Limited.

In keeping with the company’s ethos of creating vibrant communities that people want to live in, Places for People’s proposed £10 million development will include 50 residential units of various tenures and 750 sq m of commercial floor space.

Commenting on the acquisition Places for People development director (Scotland) Colin Rae said: “This acquisition is an important element of our strategy for growth in Scotland and will further increase our presence in the up-and-coming Waterfront area of Edinburgh. We are in the business of building great places for people to live and work and our scheme at Upper Strand adjacent to the new site at Waterfront Avenue is testament to that.”

Upper Strand has attracted UK wide acclaim, winning Best Housing Development Project in the National HomeBuilder Design Awards and nominated through the Scottish Design Awards as a potential Proposed Place Making winner. Like the proposed development for the new site, the apartments at Upper Strand have been designed to appeal to first time buyers and young professionals with families looking for an affordable lifestyle in a flourishing community within easy reach of the city centre and Leith.

Commenting on the sale Colin Hunter, Chief Executive, Waterfront Edinburgh Ltd said: “We are delighted to work with Places for People on this acquisition and welcome their commitment to providing housing that is affordable. We look forward to the development taking shape and adding to the diverse residential mix on Waterfront Avenue, Granton.”