Plans for Scotland’ s first purpose-built, large-scale private rental residential development have been submitted to the City of Edinburgh council by Grosvenor Britain & Ireland.
The Duke of Westminster’s property company will develop, own and manage the 400 homes at Springside, Fountainbridge, a former industrial area close to the city centre.
The scheme also includes a new public square, offices and shops.
The rooftops of the residential buildings will provide community space.
It is the second phase of Grosvenor’s Springside development, which already includes 250 homes for sale, affordable housing and serviced apartments.
It also includes flats for 600 students.
Grosvenor retained 46 of the homes in the first phase to trial a build to rent model and concluded there was sufficient demand to justify and entirely private rented second phase.
Grosvenor Britain & Ireland director city centre development David Yaldron said: “I believe that the provision of build-to-rent homes in Fountainbridge will help create a mixed and vibrant community. It also gives residents confidence that these will be high-quality, professionally managed homes, with a level of service and security not currently associated with the private rental market.”
Grosvenor has been involved in Fountainbridge for nearly 10 years.
It plans to build out the second phase, subject to consent, over the next five years, with work on an initial 141 homes likely to start next year.
