Edinburgh Park homes plan, church flats scheme – Daily Business

Places for People expects work on 160 affordable homes at Edinburgh Park to begin in August as part of a masterplan with Parabola.

The development, which will include a mix of social rent and mid-market rent properties, is PFP’s second major land deal in the city this year, following its acquisition of the Redheughs village site from Murray Estates on the other side of the bypass.

The Beat Street East site, alongside the tram, will benefit from Scottish Government grant funding and builds on PFP’s ongoing investment in Edinburgh, which includes the delivery of 377 homes at The Engine Yard.

Colin Jack, regional managing director for Scotland at Places for People Developments, said: “Beat Street East is a vital addition to our growing portfolio of developments in Edinburgh. We are committed to tackling the city’s housing needs and delivering well-designed, affordable homes in thriving, connected neighbourhoods.

“As a social enterprise, we reinvest our profits to create long-term value for communities, and we are already making a tangible impact in Edinburgh through our community hub, tool library, and the regeneration of local housing stock.”

Church conversion opportunity

A residential development within a former church in the heart of Morningside offers the chance to develop ten apartments within a Category A listed building.

Designed in 1890 by Sir Robert Rowand Anderson as South Morningside Church, it later became the Cluny Centre. The site now has detailed planning permission for residential conversion.

Ben Brough, head of residential development at selling agent Savills Scotland, commented: “The Hermitage Apartments represent an exceptional and rare opportunity to create a flagship residential development in one of Edinburgh’s most desirable locations.

“Its combination of historic significance, architectural beauty, and prime setting in Morningside provides an unparalleled canvas for developers to craft something truly special. We are excited to bring this iconic site to market.”

Aberdeen Investments’ European real estate loan

Aberdeen Investments has completed its first commercial real estate loan in Europe with the financing of a modern Grade A office property in Dublin.

The €33m loan marks the first European investment for the commercial real estate lending team at Aberdeen Investments, building on its long track record of financing high-quality commercial properties in the UK.

This European investment is part of the company’s planned expansion of the platform to support European borrowers.

The initial focus will be on the Irish and Dutch markets while also selectively considering opportunities across other continental European jurisdictions.