Fountainbridge Holdings has acquired the Freer Street development site in the Edinburgh city centre area of Fountainbridge, from Real Estate Solutions, Royal Bank of Scotland.
Fountainbridge Holdings is a joint venture company created recently by Amco Developments and Omni Developments.
The 1.7-acre former Fountain Brewery site has planning permission in principle for 78 private flats and 140,000 sq ft of Grade A offices.
The masterplan has been designed by Michael Laird Architects and will be next to the existing mixed-use Edinburgh Quay scheme and the EDI-owned India Quays.
Paul Heap, director of Fountainbridge Holdings, said: “This site has been a labour of love for us, but now following more than three years of hard work, together with our investment partners, we are hugely excited to have completed our purchase. We’ll now redouble our efforts and expect work to start on site during 2016.”
Nadir Khan-Juhoor, director at BNP Paribas Real Estate, which represented Fountainbridge Holdings in the deal, said: “The purchase of this well-located city centre development site to create a major mixed-use scheme has been a long time in the making and we are delighted to have worked with our client and the professional team to secure it.”
DougraySmith is joint disposal agent with BNP PRE for Fountainbridge Holdings Limited. Cushman & Wakefield acted for RBS.
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