Scottish News


Drum Property Group’s Leith Walk Proposals Get Planning Green Light


Drum Property Group’s vision for the long-awaited redevelopment of a key development site on Leith Walk is to become a reality following the granting of planning consent.


Drum’s ambitious proposals for Stead’s Place, near the foot


of Leith Walk,


were recently approved by the City of Edinburgh Council, heralding a major regeneration of the 2.9-acre site and bringing much-needed investment and interest to this important part of the city centre.


The Stead’s Place site has been earmarked for development by the Council since 2008 and consists largely of an aged industrial estate and office space, together with a two-storey sandstone building facing directly on to Leith Walk. Drum will now replace the existing industrial units with 148 high-quality apartments, including 38 affordable homes, as part of an attractive


landscaped residential


scheme linking to Pilrig Park and beyond. The sandstone building will be retained and refurbished and made available for commercial occupation, providing a vibrant local retail and business frontage onto Leith Walk.


The planning consent is the culmination of four years of research, planning and local community engagement by Drum since the company first purchased the site in 2017. The current proposal follows a comprehensive six-month consultation programme with the local residential and business community, with almost three-quarters of those consulted either supportive or neutral about the revised plans.


Welcoming the planning approval,


Graeme Bone, Group Managing Director of Drum said: “Drum has worked hard to ensure our current proposals are aligned with the objectives and plans of local community groups. We listened carefully to their views, enabling us to draw on the positive characteristics of the surrounding area to create a real sense of place that features a mix of private and affordable housing with a refurbished, vibrant and dynamic retail frontage facing Leith Walk”.


Drum is now committed to ensuring the shop frontages on to Leith Walk retain the current individual style and size, reflecting and supporting the current local small trader units at the site whilst refurbishing the office suites for rent on the first floor in a revamped business centre offering.


The Hunter Portfolio Sold CBRE


The Hunter Portfolio Hillington Park


The Old School House, Blairgowrie, Perthshire


has


announced it has completed the purchase of the Hunter Portfolio in Hillington


Park, Glasgow on behalf of HKIP for in excess of £6million.


The portfolio comprises five office buildings totaling 91,858 sq ft and covers a range of occupancy styles, including traditional open plan offices, single-storey pavilions and serviced offices. The existing tenants include Scottish Ministers, GE Energy, Schenker, Beeks Financial, IQA Operations Group and FES FM.


Hillington Park is widely recognised as Glasgow’s premier business destination located between Glasgow city centre and Glasgow International Airport. The 420- acre park is home to over 500 businesses, employs in excess of 8,000 people and provides around 4million sq ft of business space. It benefits from its own retail centre, restaurants, nursery and gym facilities, in addition to the significant facilities provided within Braehead Shopping Centre and surrounding area. CBRE acted for HKIP in the transaction whilst Ryden represented the vendor Frasers Property.


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A beautiful restoration and conversion of a former school in the beautiful Perthshire town of Blairgowrie has been launched to the market by Savills. The Old School House, a grand Victorian schoolhouse built in 1876, has been spectacularly converted in to two penthouses and six duplexes by award-winning developers Corryard, who specialise in the renovation of old and listed buildings.


Ben Di Rollo, of Savills said: “The School House has an abundance of attributes including its elevated, south facing position with views over Perthshire. It quietly overlooks the market town of Blairgowrie, and is just a two minute walk to the high street’s cafes, shops and restaurants.


Given the scenic beauty of Perthshire, it is perhaps little wonder that The Old School House has attracted buyers who have time to enjoy the wide array of country pursuits on its doorstop, including downsizers and second home buyers. The region boasts no less than 40 golf courses (including two championship courses within just two miles of the property), the famous silvery River Tay (one of the best salmon rivers in the United Kingdom) as well as a multitude of stunning lochs and glens, with opportunities for skiing at Glenshee or hiking over the region’s 28 munros. Buyer interest has come from Perthshire, as well as across Scotland and much further afield including London and Hong Kong Prices from £240,000 to £520,000


Final Unit Available at Knight Property Group’s Trade Counter Development at Westhill


Following on from recent pre-lets, only one unit now remains available at The Crescent, Knight Property Group’s speculative trade counter park development in the popular Aberdeen suburb of Westhill.


The Crescent is a development of four highly visible units, built speculatively by Knight and completed in March 2021. The remaining unit extends to 3,520 sq ft and includes an internal office, toilet and electronically operated roller shutter doors. There is ample parking and yardage on site.


Recent deals have included retail chain Toolstation on a 10-year lease at Units 1 and 2 and The Paint Shed at Unit 3 on a 10-year lease.


James Barrack, Managing Director of Knight Property Group said: “Securing Toolstation and The Paint Shed for The Crescent is very positive news, particularly in the midst of the current economic conditions and global pandemic.


“These deals underline the demand for this type of trade counter development in the Aberdeen market and the fact that our existing units at Kingshill Commercial Park are also fully occupied.”


Ryden and FG Burnett are joint agents for Knight Property Group at The Crescent. Graham & Sibbald advised The Paint Shed.


GRAHAM Secures Glasgow Riverside Build-to-rent Project


Contractor GRAHAM has secured a key Glasgow residential build to rent project on the banks of the Clyde on behalf of developer PLATFORM_.


The 498-apartment development consists of four blocks of varying height, including a 20- storey tower, on a landmark riverside site close to the city centre which has lain vacant since the departure of the Daily Record newspaper in 2000.


GRAHAM is currently onsite for enabling and the site is scheduled to complete in 2023.


Resident facilities include a rooftop garden, lounges, games rooms, gym, cycle club & café, roof terraces, and a co-working commercial area with cafe.


Gary Holmes, Regional Managing Director for GRAHAM’s Building division said: “Private rental developments are again increasing in popularity across the UK, feeding a growing appetite of those people who want flexible, sociable and cost-effective living, and this project further bolsters our strong position in the residential sector. The facilities we are constructing for PLATFORM_ will provide high quality apartments, incorporating the full range of lifestyle and amenity facilities which today’s urban professional renters expect.”


COMMERCIAL PROPERTY MONTHLY 2021


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