Edinburgh development: Work starts next month on biggest housing investment in city centre in over a decade
Edinburgh development: Work starts next month on biggest housing investment in city centre in over a decade.
Work is set to begin next month on an Edinburgh complex hailed as the city’s largest single housing investment in more than ten years.
The New Town Quarter development, on the former Royal Bank of Scotland site in Dundas Street, is expected to include over 300 new residences as well as purpose-built student housing for almost 600 people.
Last week, Housing Secretary Mairi McAllan visited the 5.9-acre property and was shown around by top members of Ediston developers. There is presently planning permission on the site for around 350 new dwellings, including a mix of build-to-rent, private residential, and mid-market rent, as well as office space.
However, Ediston has submitted a new proposal to modify the build-to-rent part to purpose-built student accommodation, which would be created, owned and operated by Fusion Group, as well as to convert the office block into additional houses. The application is likely to be processed by the end of the year.
Meanwhile, Ediston said development on 107 new homes will begin next month, including five blocks of flats opposite Royal Crescent. In addition, discussions with the Wheatley Group are being concluded for the delivery of 108 affordable houses, all of which were originally planned.
Permission is being sought for another 100 new homes to replace the proposed offices, as well as 599 beds of student housing to replace the build-to-rent residences.
The buildings would all be the same size and appearance as previously designed and approved. In 2017, RBS relocated its workers from Dundas Street to the bank’s new headquarters in Gogarburn. Initially, RBS wanted permission to destroy the structure and construct up to 400 units. Despite numerous concerns, it decided to withdraw the proposal and put the site up for sale.
It was purchased for £36 million in 2019 by London-based Orion Capital, and Ediston was hired to develop the property. The demolition of the former RBS buildings was finished in October 2024.
Ross McNulty, Ediston development director, commended Ms McAllan for her visit to the site. He stated, “We were happy to be able to show her how New Town Quarter would become a lively and thriving neighbourhood in the capital’s main centre.
“From the start, we’ve taken a ‘Place’-based approach to developing a new community in this unique place, and we’re certain that our dedication to excellence will pay off for the city. We’d also like to express our gratitude to area people for their patience during the delays.
“Now that we are at the point of being able to deliver New Town Quarter, we remain hopeful that the planning committee will decide on the final application for 100 additional new homes before the end of this year” . Ms McAllan stated that good quality, affordable housing was essential for flourishing communities and neighbourhoods.
“Ediston and Orion Capital Managers’ development in the heart of Edinburgh’s new town will produce hundreds of new residences on this land. My goal is to improve housing deliveries by at least 10% annually over the first three years of the next parliament.”
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