Goodstone Living has secured consent from the City of Edinburgh Council for the expansion of its 2.5-acre Dockside build-to-rent scheme in Leith.
The number of homes on the waterfront scheme has increased from 338 to 373 to accommodate more affordable housing, which represents 25% of the development.
Goodstone, which is backed by Macquarie Asset Management, bought the £80m BTR scheme from S1 Developments in 2022. It secured £67m of debt financing from NatWest in March 2023.
The 373 homes will span four buildings of between 10 and 14 storeys. Two ground-floor commercial units will be offered at discounted rents for local businesses as part of Goodstone’s social value creation strategy. The scheme will also have amenity space with rooftop lounge and dining, co-working areas and a fitness centre.
McAleer & Rushe started construction in May. The first building is expected to complete in July 2025.
Lee Hawkins, construction director at Goodstone Living, said: “This consent provides us with the opportunity to make significant value-add enhancements to Dockside, specifically in respect of its sustainability credentials and the offer to the local community through public realm improvements.
“It will also enable us to widen our prospective tenant base here in Edinburgh, where there is a real need for high-quality rental housing across a wide range of age groups and income profiles.”
See also: Interview: BTR beginnings with Macquarie and Goodstone
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