Urban regeneration specialist Kelvin Properties has made its debut acquisition in Edinburgh.
The firm has bought a site in Canonmills that was formerly home to a charity’s furniture warehouse, for a 48-flat scheme including 12 affordable apartments. A fifth of the homes are larger three-bedroom properties suitable for families.
The site at 67 Logie Green Road, in the north of the city, was formerly used by charity Four Square – which supports local homeless people – for its Edinburgh Furniture Initiative. The EFI will now move to more suitable premises in the west of the city, with Four Square using proceeds generated from the sale of the Logie Green site to fund new hostel accommodation for homeless people in Edinburgh.
The proposed new Logie Green Road properties will include high-quality, external green amenity spaces on a raised deck, balconies and roof terraces. The six-storey building will also feature solar panels on the roof, as well as blue roofs, rain gardens and permeable paving.
Work on site is expected to begin this summer.
Marc Taylor, director at Kelvin Properties, said: “Our first project in Edinburgh signals the start of a very exciting period for Kelvin Properties, and we see a huge amount of potential in the city, beginning with the Logie Green Road project. This move into Edinburgh has been a long time in the planning, and we put a great deal of effort and resource into identifying the right site for our first development in the capital. It is part of a strategic move for the business to widen our scope across the central belt.”
Jane Devine, chief executive at Four Square, added: “We were delighted to be in a position to sell our warehouse at Logie Green Road. The building served us well and our social enterprise, EFI, generated a significant income to fund services for people experiencing homelessness. However, as a charity focused on supporting people at risk of homelessness, buildings, and particularly housing, is very important to us. And all our money was tied up in retail warehousing – so we decided to sell our building, invest the money in accommodation and lease retail premises.
“The funds from the sale have already allowed us to purchase a beautiful building for our women’s refuge; and we plan to buy a second building for young women who are homeless from the proceeds. Our ambition is to create beautiful homes for people who need them and working with Kelvin has moved us closer to achieving that ambition.”
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