Ryden Instructed to Sell £65M Development Site in Leith, Edinburgh

Ryden has been instructed by the Russell Group to oversee the sale of The Glassworks, an 3.46 acre residential development site in Leith, Edinburgh.

The site, with a potential gross development value of up to £65 million, has planning permission in place and can accommodate 247 residential units and commercial spaces.

David Fraser, Residential, Investment and Development Partner at Ryden, said:

"Ryden is delighted to bring this exciting residential development opportunity to the market. We have been working with the owners for the last few years to secure planning permission in principle, which allows us to offer the site in on 'oven ready' basis. The recent opening of the Edinburgh Trams to Leith has given this vibrant waterside location a real boost."

The scheme comprises the demolition of the existing buildings and the redevelopment of the site for a mixed use development for mainly residential purposes of approximately 247 units and some commercial uses which include classes 2, 3 and 4, with associated car parking and landscaping.

The design includes eight blocks varying in height from three to six storeys. The site provides flexibility, being suitable for either private sale or build-to-rent models. In addition, 25% of the project is earmarked for affordable housing, aligning with Edinburgh's community housing objectives.

Located just a few miles from Edinburgh's city centre, the site benefits from Leith's enhanced connectivity due to the recent extension of the Edinburgh Trams. The vibrant waterside area offers a mix of bars, restaurants, hotels, and shops, contributing to an upscale urban lifestyle.

Click here for further information on the site and get in touch with our agents.