Regeneration specialist Artisan Real Estate and fund manager REInvest Asset Management have unveiled detailed plans to redevelop the former Deutsche Bank House at 525 Ferry Road, Edinburgh, into more the 250 sustainable homes.
The office and data-processing centre was formerly the Scottish base for State Street Bank until the building was vacated in 2018. The developers are now lodging a planning application to transform the vacant site, rebranded as 525 Park View, into a new residential neighbourhood providing 256 sustainable homes, 25% of which would be for affordable housing.
Flexible commercial space facing on to Ferry Road also provides the potential for cafes, shops and shared workspaces.
David Westwater, regional director for Scotland at Artisan, said: “This is a hugely exciting opportunity to breathe new life into an underused building, while ensuring its long-term future by bringing a new sustainable community to an accessible city centre location
“Following the consultation feedback, we have worked hard to make this development not just the right fit for the site but also an integral part of the wider city centre area. We have reduced the heights of the building from nine to seven storeys and ensured the overall architectural design and materials respect local and historical contexts. We are also fully aware that we have the responsibility to ensure that our developments exceed all current environmental standards, setting new benchmarks for smart, sustainable living whilst providing a high quality of internal and external space. Our proposals have been guided by low-carbon design and encompass a mix of apartment sizes and layouts, led mainly by residential as well as much-needed affordable housing and other complementary commercial uses.”
Thomas Merkes, head of asset management at REInvest Asset Management, added: “Our joint venture partnership with Artisan represents a major step forward in providing an innovative and collaborative mixed-use development solution to unlock the potential for this significant city centre site, which is set to create a genuinely transformational development in an accessible city centre location. Our planning submission for this complex site demonstrates how we can make a positive contribution to the local area, bringing investment, life and excitement back to this important part of the capital.”
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