Property firm S Harrison Developments has bought its first site in Scotland as part of the group’s ambitious expansion programme.
The acquisition of a 0.5 acre site on Leith Walk in Edinburgh’s New Town follows the announcement of a doubling of profits at the York-based company in 2013.
The currently derelict site at Haddington Place was part of Edinburgh’s original Botanic Gardens and until recently housed the Botanic Cottage which is due to be rebuilt during the next 12 months at the Scottish capital’s Royal Botanic Gardens.
Harrison is working with the planning authorities to explore the possibility of building high quality student accommodation on the Haddington Place site, to meet the city’s student housing needs, along with retail space on the ground floor. The planning committee has already endorsed plans to create a 205 bed hotel.
Director David Clancy, who led the Haddington Place acquisition team, said: “Yorkshire remains our heartland and we are expecting to announce shortly further acquisitions in both Leeds and York as we continue to look for more development opportunities.
“Having seen success in locations like Lichfield, Workington and Newcastle, we are also keen to extend our geographical reach when good opportunities arise.”
He expects Haddington Place will be the first of a number of investments in Scotland.
“Edinburgh is such a vibrant and exciting city and we’ve been impressed by the quality of the professionals with whom we have worked to conclude the purchase, said Mr Clancy.
Harrison has appointed East Kilbride-based architects ICA to develop design proposals for the scheme.
Harrison recently partnered Edinburgh-based Buccleuch Property on a multi award-winning £32m scheme to regenerate West Offices, a Grade II listed former railway station in York, now headquarters for City of York Council.
In 2013 Harrison completed its third student halls scheme in York, selling the 258-bed St John Central development to York St John University.